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Merger could affect Thomas Cook jobs

Travel company Thomas Cook has said proposals to integrate its UK and Irish businesses following the merger with MyTravel could affect an estimated 2,500 to 2,800 jobs.

A statement from the company said that it would try to offer redeployment within the business to as many employees as possible.

The company was created from the merger of KarstadtQuelle's Thomas Cook holiday division and UK rival MyTravel - the former Airtours - in June.

It brought together the second and third biggest European travel firms, behind travel giant TUI AG.

Thomas Cook said the proposals would help achieve synergies of at least £95m.

Under the proposals, six UK sites would close and the retail network was being reviewed with the aim of reducing the number of stores by 150 to around 800.

The company said its key holiday brands would include Airtours, Direct Holidays, Manos, Panorama, Sunset and Thomas Cook, as well as specialist brands. Its main brands in Ireland are Sunworld and Panorama.

Shares in Thomas Cook, which opened at £3.26 on their debut on the London stock market on 19 June, were 2.7% lower at £3.11 following the announcement.