Thomas Cook announced 325 redundancies this week , saving £20 million a year as it merges its tour operations into a single division.

UK and Ireland chief executive Manny Fontenla-Novoa said a 90-day consultation had already begun for affected staff and talks have begun with the union TSSA.

The announcement comes as the travel giant is poised to reveal record profits for last year. Fontenla-Novoa said: "Making roles redundant is always difficult, especially on the back of such a successful year."
Thomas Cook Signature, Latitude and Tours brands will become part of the new Thomas Cook Holidays division sitting alongside mainstream brands Thomas Cook, JMC and Sunset.

Most of the cuts will be at head office in Peterborough where there are 1,200 staff. One rival operator said: "Everybody is looking at cutting costs and Thomas Cook is the fattest on staff numbers. But it's a staggering amount."