Travel agency D-reizen is going to close 150 of its 500 outlets in the next three years with the loss of several hundred jobs, the Telegraaf reports on Tuesday.

D-Reizen has merged with VakantXperts and Thomas Cook Travelshops to form the new German group DRT from January 2015.

Chairman of the board Will van den Hoogen said the costs of the merger will have to be recuperated which means bonuses for the thousand-strong workforce will be cancelled.

‘The company will concentrate more on online sales and will seek to cooperate with big internet players such as Expedia,’ Van den Hoogen said.

The expectation is that half of the 1,200 high street travel agencies will disappear in the next few years. The rise of internet bookings has already led to the closure of over a thousand travel agents.