Job losses likely as holiday giants set to merge
The proposed €4.5 billion merger between First Choice Holidays and the TUI travel group is likely to lead to job cuts in Ireland, travel industry chiefs have predicted.
The merger was announced last week, but still has to be scrutinised by the European Commission and other regulatory authorities. The Commission can block big cross border mergers for competition reasons or demand the disposal of assets in return for approving link-ups.
A competition lawyer in Dublin said: ‘‘The size of this transaction and the turnover of the parties means it has to go to the Commission. The decision will not be bounced back to...
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