Around 1,500 jobs are under threat at WH Smith in the latest blow to the retail industry.
The chain said its restructuring plans will see the posts go across the business, with proposals expected to cost the company between £15 million and £19 million.
The retailer said group revenues were down 57 per cent in July compared with the same month last year, after its travel arm was particularly badly hit by the pandemic.
The company said it needs to reduce costs as its shops in airports and railway stations have been hit by low passenger numbers and its high street stores have also suffered from low footfall.
It said just over half of its UK travel shops have reopened and that 246 of its largest sites have started trading again.
All 575 of its high street stores have opened, the business said, but footfall is strongly down compared with last year.
It said it now expects to make a loss of between £70 million and £75 million for the year to August.
WHSmith group chief executive Carl Cowling said: “In our travel business, while we are beginning to see early signs of recovery in some of our markets, the speed of recovery continues to be slow.
“At the same time, while there has been some progress in our high street business, it does continue to be adversely affected by low levels of footfall.
“As a result, we now need to take further action to reduce costs across our businesses.
“I regret that this will have an impact on a significant number of colleagues whose roles will be affected by these necessary actions, and we will do everything we can to support them at this challenging time.”
The WH Smith bombshell follows announcements that jobs will also go at Dixons Carphone, Pizza Express, Hays Travel and TUI among others.
