Thomas Cook warns of UK job losses to come

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The tour operator Thomas Cook has kicked off a review to deliver "substantial cost savings" in the UK that will lead to job losses, as it battens down the hatches in the tough consumer environment.

Alongside a trading update, Manny Fontenla-Novoa, the chief executive of Thomas Cook, confirmed there would be job losses among its 13,000 UK workforce but declined to provide numbers. On the upside, Thomas Cook's UK winter bookings rose by 13 per cent over the past four weeks.