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Economics, government & businessJob creation and lossesRecruitment & retention

Thomas Cook and MyTravel staff fear job cuts following £3bn merger plan

by Personnel Today 20 Feb 2007
by Personnel Today 20 Feb 2007

Employees at Thomas Cook and MyTravel must wait to see who will lose their jobs after the tourism giants announced plans for a £3bn merger.

The enlarged organisation will be called Thomas Cook and will be based in the UK – but large-scale job cuts are expected among the 19,000 combined workforce.

A spokeswoman for ­Thomas Cook – whose German parent company KarstadtQuelle would own 52% of the new firm – told ­Personnel Today that the firm’s HR department was as much in the dark as anyone about redundancies.

“Rather than the HR department, we are talking to staff through our internal communications,” she said.

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“It is very limited what we can say. There are going to be areas where we overlap, but it is too early to say how it will play out for individual roles,” she added.

The merger is still subject to a vote by MyTravel shareholders, and it needs to be cleared by monopolies watchdogs in Brussels.




Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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