Thomas Cook Plans $2.4 Billion Refinancing as Cuts Pare Loss

Thomas Cook Plans $2.4 Billion Refinancing as Cuts Pare Loss

Paul Thomas/Bloomberg

Thomas Cook Group Plc, the world’s oldest holiday company, has begun a 90-day consultation to cut 2,500 jobs, or 16 percent of the total, as it closes unprofitable shops and consolidates airline operations under a three-year recovery plan.