Manchester United have announced that up to 200 staff may be made redundant as part of a corporate restructuring plan to fix their financial troubles.
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Red Devils announce corporate restructureHundreds of workers' jobs on lineClub has made losses since 2019Follow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
The announcement confirmed previous reports that more redundancies were due less than a year after the club laid off 250 members of staff following Sir Jim Ratcliffe's partial takeover of the club. The job cuts are part of what the club described as a 'transformation plan to strengthen financial sustainability and modernise its operating structure' and are in addition to other cost-cutting measures including closing the staff canteen at Old Trafford and ending meals for non-playing staff at the Carrington training ground, putting on soup and bread instead.
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A club statement read: 'Manchester United is to transform its corporate structure as part of a series of additional measures to improve the club’s financial sustainability and enhance operational efficiency. The transformation plan aims to return the club to profitability after five consecutive years of losses since 2019. This will create a more solid financial platform from which the club can invest in men’s and women’s football success and improved infrastructure. As part of these measures, the club anticipates that approximately 150-200 jobs may be made redundant, subject to a consultation process with employees. These would be in addition to the 250 roles removed last year.'
WHAT OMAR BERRADA SAID
United's CEO Omar Berrada said in a statement: "We have a responsibility to put Manchester United in the strongest position to win across our men’s, women’s and academy teams. We are initiating a wide-ranging series of measures which will transform and renew the club. Unfortunately, this means announcing further potential redundancies and we deeply regret the impact on those affected colleagues. However, these hard choices are necessary to put the club back on a stable financial footing.
"We have lost money for the past five consecutive years. This cannot continue. Our two main priorities as a club are delivering success on the pitch for our fans and improving our facilities. We cannot invest in these objectives if we are continuously losing money. At the end of this process, we will have a more lean, agile and financially sustainable football club, while continuing to provide a world class service to our valuable commercial partners. We will then be in a much stronger position to invest in football success and improved facilities for fans, while remaining compliant with UEFA and Premier League regulations."
DID YOU KNOW?
A source said United were making 'ongoing efforts to manage our football costs more efficiently, with the ultimate objective of maximising investment in football, but doing so more effectively than in the past.' The club also announced the appointment of Marc Armstrong as chief business officer. He joins from Paris Saint-Germain.