There are some pretty naive comments on this thread. Thomas Cook is heaving under a mountain of debt. That has to be serviced ( = interest paid on it) and eventually repaid, possibly by further borrowing. The CEO and other senior managers are doing their best to ensure its survival, not just cutting jobs for the hell of it.
For any plc to survive it must retain the confidence of investors ( = the "City") and lenders ( = banks). If TC did not take these draconian measures, it would be bankrupt and every employee would lose their job. The company's core business (inclusive holidays) is in long-term decline, and diversification would be both expensive and high-risk.
I understand is has become trendy to 'bash' those earning more than yourself, but these people have direct responsibility for the livelihoods of thousands of employees, the safety of their passengers and the satisfactory fulfilment of millions of people's holidays.
Last edited by LGS6753; 9th Oct 2012 at 17:52.
Reason: formatting