UK Firm Begins Redundancy Round Following Thomas Cook Collapse
The firm is looking to cut 18 roles following the loss of business from the tour operating giant
October 31, 2019 at 12:06 PM
2 minute read
Insurance specialist BLM has started a redundancy consultation across three of its U.K. offices, following the collapse of longstanding client Thomas Cook.
BLM handled a number of travel, fraud and casualty matters for the tour operating giant during a period of half a decade, prior to Thomas Cook's dramatic collapse at the end of September this year.
The redundancy consultation, which began today (October 31), will look to cut 18 roles across the firm's travel and tour operators practice in the Leeds, Liverpool and London offices.
BLM's travel team currently employs in excess of 45 lawyers acting across a number of practice areas.
According to the firm, the consultation will affect all job levels from partner through to paralegal, with the majority being "somewhere in between". The firm has also stated that relevant external recruitment has been put on hold, so that those affected have the opportunity to consider existing roles within the business.
In a statement, a spokesperson for BLM commented: "Thomas Cook has been a client of ours for several years. All cases that we had for the tour operator have now been stayed following liquidation of the company.
"In light of this, we have made the very difficult decision to begin a consultation with colleagues in our travel and tour operator team, with a view to making 18 roles redundant.
"This is of course a very unsettling situation for all involved and we are doing all we can to offer our support to anyone affected by this decision."
A roster of top firms have been enlisted to advise on the administration of Thomas Cook, following failed rescue talks in September. Slaughter and May and Latham & Watkins are advising the board and the company respectively. Ashurst has also taken up the role of advising the official receivers.
Following the collapse, Reed Smith took on the role of advising the Civil Aviation Authority in its efforts to repatriate more than 150,000 British tourists who were left stranded abroad.
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