Thomas Cook Group plc, one of the world’s leading leisure travel groups with sales of £9.5 billion in 2012, reports it is closing 195 offices, leaving 874 stores in the U.K. The company said it will also reduce its full time staff by 2,500 out of 15,500 in the U.K.
Peter Fankhauser, Thomas Cook UK & Ireland’s CEO, said the company wants to keep administrative costs are as low as possible, expand the firms online capabilities and pursue a omni-channel retail strategy. After the changes, Thomas Cook reports it will still have one of the largest retail networks in UK travel.
The changes are part of a three-year program to transform its operations and improve profitability. "These proposals will mean a stronger Thomas Cook that continues to be a major employer in the UK dedicated to providing excellent holiday experiences to our 23 million customers," the company said.
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