Travel agent Thomas Cook has said that up to 2,800 jobs will be lost as part of its merger with MyTravel.
The two travel companies completed a £2.8-billion merger last week, with Thomas Cook saying cost-savings of £95 million could be achieved as a result.
But the restructuring will come at a cost to workers, with between 2,500 and 2,800 employees – 15 per cent of the company's workforce – to be made redundant as six offices and 150 of its 800 stores face closure.
Under the plans the merged group's divisional head office would move to Peterborough.
Manny Fontenla-Novoa, joint chief executive of Thomas Cook, said that "as many as possible of those whose roles are potentially affected by today's news will be offered the opportunity for redeployment within the business".
He also insisted the firm remained "absolutely committed" to retaining the skills and experiences of the workforce.
"However, we appreciate that some employees will either not want to take up our offer of redeployment or will not be able to do so," he added.
"For those employees we will provide appropriate redundancy packages and full support."
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