THOMAS cook has warned of job losses as the operator aims to
cut costs.

The announcement was made as Thomas Cook reported a pre tax
loss of EUR134.8 million for the year ending October 2002. This compares to a
profit of EUR58.8 the previous year.

The company revealed that UK customers dropped by 238,000
during the year.

Chief executive Stefan Pichler said job losses would be
spread across the group.