Home>Topics>>UPDATE 2-Thomas Cook to cut 2,500 jobs in UK
UPDATE 2-Thomas Cook to cut 2,500 jobs in UK
Reuters: Cyclical Consumer Goods
Wed, 6 Mar 2013
LONDON, March 6 (Reuters) - Travel firm Thomas Cook said it would cut 2,500 UK jobs and close 195 stores in Britain as the euro crisis, high fuel costs and unrest in key destinations like Egypt and Greece take their toll on the holiday business.
Friday's job report is unlikely to show that the payroll tax-cut expiration has thrown off the job market's slow but steady recovery, says Morningstar's Bob Johnson.
The Artio International manager says most of the world's governments face issues similar to Greece , and precious metals will be the winners in the medium term.
Although European banks are trying to build a large buffer against continental turmoil, the risks are still there, according to Morningstar's Erin Davis.