Up to 46 staff in two Thomas Cook shops in Dublin will undergo a 30-day consultation from next week, along with 15 staff at the Direct Holidays shop in the city. A further 16 staff work for its operator brands Direct Holidays, Sunworld and Panorama.
Speaking at the announcement of the group’s half-year results, Fontenla-Novoa said the Irish economy was suffering badly in the recession, with the travel market down by as much as 40%.
“We are outperforming that, but we are under a lot of pressure. The Thomas Cook businesses in Dublin were very good, but unfortunately were hit,” he said.
Fontenla-Novoa blamed the introduction of the euro for much of the impact on business in Ireland, adding: “We lost a lot of our foreign exchange income as a result of that. Rates also went up significantly, fuelled by the economy, and it made it difficult to operate a retail business.”
- Thomas Cook planning for ‘worse economic climate’ [Travolution]
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