Key Takeaways
- • EasyJet is understood to be consulting on proposals that could cut up to 50 roles from its 2,300-strong head office team, ahead of a £5.7billion takeover by US private equity firm Apollo.
- • Shareholders are scheduled to vote on the Apollo deal on Wednesday, with completion expected in the first quarter of 2027 if approved.
- • EasyJet says the job cuts are not linked to Apollo or the takeover and affect a "very small proportion" of head office roles.
- • Apollo has pledged not to cut jobs for one year after completion, a commitment the British Airline Pilots Association (Balpa) says leaves long-term employee exposure unresolved.
- • Sir Stelios Haji-Ioannou and his family, who own about 15 per cent of EasyJet, support the transaction.
Summary
EasyJet is cutting jobs at its Luton head office ahead of a £5.7billion takeover by US private equity group Apollo, according to This is Money. The airline is understood to be consulting on proposals that could see up to 50 roles removed from a team of around 2,300 people. The job cuts are understood not to be linked to Apollo or the takeover.
EasyJet agreed in July to be acquired by Apollo, which also owns Wagamama parent The Restaurant Group. Apollo secured the deal after winning a takeover contest with US investment firm Castlelake, which had earlier made a £5.5billion offer and withdrew from the bidding in August. Shareholders will vote on the transaction on Wednesday, and if approved, completion is expected in the first quarter of 2027.
An EasyJet spokesman said the company's people are integral to its success and that the proposals affect a very small proportion of head office roles, intended to position the business for its ambitious plans. The airline said it continues to operate efficiently as a low-cost carrier to keep fares low.
Unions in the UK and Europe have raised concerns about possible job cuts following the Apollo deal and the debt that would be added to EasyJet's balance sheet. Apollo has vowed not to cut any jobs for a year after completion. Balpa said important questions remain about the long-term implications of the transaction, particularly its effect on employees beyond the 12-month period covered by Apollo's statements of intention.
EasyJet was founded in 1995 by Sir Stelios Haji-Ioannou as a low-cost alternative to British Airways and has since grown into one of the largest networks in Europe. Sir Stelios and his family, who own about 15 per cent of the business, have backed the takeover.
EasyJet agreed in July to be acquired by Apollo, which also owns Wagamama parent The Restaurant Group. Apollo secured the deal after winning a takeover contest with US investment firm Castlelake, which had earlier made a £5.5billion offer and withdrew from the bidding in August. Shareholders will vote on the transaction on Wednesday, and if approved, completion is expected in the first quarter of 2027.
An EasyJet spokesman said the company's people are integral to its success and that the proposals affect a very small proportion of head office roles, intended to position the business for its ambitious plans. The airline said it continues to operate efficiently as a low-cost carrier to keep fares low.
Unions in the UK and Europe have raised concerns about possible job cuts following the Apollo deal and the debt that would be added to EasyJet's balance sheet. Apollo has vowed not to cut any jobs for a year after completion. Balpa said important questions remain about the long-term implications of the transaction, particularly its effect on employees beyond the 12-month period covered by Apollo's statements of intention.
EasyJet was founded in 1995 by Sir Stelios Haji-Ioannou as a low-cost alternative to British Airways and has since grown into one of the largest networks in Europe. Sir Stelios and his family, who own about 15 per cent of the business, have backed the takeover.
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