A total of 75 people employed by Thomas Cook Belgium will see their jobs terminated on Thursday, in the first dismissal of employees of the Belgian branch of the bankrupt U.K. parent company.
The employees' dismissal marks the first steps of their employing companies' liquidation procedures after they were declared bankrupt by a Ghent business court on Wednesday.
The bankruptcy declaration, concerning three entities of the Belgian branch, signalled an intention by the parent company to shed off excess weight in an attempt to remain operational.
- Thomas Cook Belgium declared partially bankrupt in business court ruling
- Thomas Cook: 220 employees will be repatriated to Belgium within two weeks
Their dismissal is expected to be officialised in a personnel meeting slated for 9:30 AM on Thursday, with union representatives declaring on Wednesday that it was "no longer possible to continue activities," as they emerged from a meeting with management, according to BX1.
As it filed for the bankruptcy of the three entities, the Belgian branch, which employs over 500 people, said that it was seeking a buyer in order to continue operations.
News of the dismissal comes after the company announced that 220 workers, employed by the Belgian branch under a foreign contract, would be repatriated to Belgium in the coming weeks.
The Brussels Times