"That can only mean one thing - fewer shops with fewer jobs and less choice for customers." My Travel boss Peter McHugh admitted there would "almost certainly be some job cuts" amongst the 19,000-strong UK workforce. The new business, to be called Thomas Cook Group, will be Europe's second-biggest package holiday business behind Thomson, taking more than six million Brits away each year. Thomas Middelhoff, CEO of Thomas Cook's German owner KarstadtQuelle said: "The combined organisations will offer customers unrivalled choice and quality." Experts say the deal was driven by pressure from lowcost airlines such as easy Jet. "Traditional package holiday businesses have been feeling the heat," said one leading analyst. "More people are booking their own holidays, often online." Figures from the Association of British Travel Agents show tour operators' market share now running at 45 per cent.