Manchester United will lay off up to 200 employees as part of a strategy to transform the club into a more efficient operation. Following the loss of 250 staff last summer, the club has confirmed further reductions of between 150 and 200 personnel. The layoffs coincide with a reduction in employee amenities.
Job Impacts
- The team plans to close the employee canteen at Old Trafford, with food options for staff at Carrington limited to soup and bread.
Financial Context
- This announcement comes shortly after the first anniversary of Sir Jim Ratcliffe acquiring a minority stake in the club. Ratcliffe has pursued aggressive cost-cutting measures since taking control.
Statement
“We have a responsibility to put Manchester United in the strongest position to win across our men's, women's and academy teams,” said chief executive Omar Berrada. “These hard choices are necessary to put the club back on a stable financial footing.”
Revenue Decline
- United reported a revenue decline from $296.1 million to $260.6 million, attributed to not qualifying for the Champions League last season, alongside a loss of $142.9 million on revenues of $835.2 million in the previous year.
Summary
- The overall employment at United stood at 1,140 employees, which will be significantly reduced in order to streamline operations and financial performance.
