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Thomas Cook Group To Restructure UK Business; Workforce To Be Reduced By 2500

3/6/2013 7:04 AM ET

Thomas Cook Group plc (TCG.L) announced it has begun a consultation process to restructure the company's UK business. The move is as part of the company's ongoing business transformation. Thomas Cook said, subject to the consultation, the process would see the Group's UK workforce reduced by 2500 full-time roles, mostly in back-office functions and its retail network, including some store closures. Thomas Cook Group currently employs 15,500 people across the UK & Ireland.

The company noted that the cost benefit of the changes, and the costs of achieving them, have already been included in the cost-out numbers previously announced.

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