PRESS: easyJet plans 50 job cuts ahead of Apollo takeover - The Times

easyJet PLC is planning to cut around 50 jobs at its Luton headquarters ahead of a shareholder vote on its £5.7 billion takeover by US private equity firm Apollo Global Management Inc, The Times reported.

The budget airline has launched a consultation on the proposed redundancies before a 12-month moratorium on job cuts takes effect following completion of the deal, according to the newspaper.

A source close to easyJet said the reductions were unrelated to Apollo's takeover, which values the airline at 715 pence per share.

The proposed acquisition, backed by easyJet founder Stelios Haji-Ioannou, has raised concerns among pilots' unions over job security and plans to add £3 billion of debt to the airline.

easyJet said the proposals affected a small proportion of head-office roles and were intended to support its future growth plans.

Shares in the airline were 0.1% higher at 684.80 pence in London on Monday morning.

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