1,000 jobs at risk at Thomas Cook

Ailing holiday firm Thomas Cook is set to axe about 1,000 jobs in a radical restructuring after banks threw it a £200 million lifeline, it has been reported.

The beleaguered company, which sells more than 22 million holidays a year in the UK, turned to its banks for more financial help following a deterioration in trade driven by weak consumer confidence and unrest in North Africa.