Manchester United to lays off another 150-200 staff after sacking 250 people initially
Manchester United said that it will cut about 150 to 200 jobs as part of additional measures to reverse financial losses at the Premier League club.
The plan to “transform” its corporate structure is in addition to 250 jobs removed last year, the club said.
“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,” the club added.
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United has been aggressively restructuring and cutting costs since British billionaire Jim Ratcliffe took a 25 per cent stake and took charge of its football operations to try to revive its fortunes on the pitch.
“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,” Omar Berrada, the CEO of United, said.
| Photo Credit:
Reuters
Omar Berrada, CEO of Manchester United, said the club would benefit in the longer run.
| Photo Credit:
Reuters
The club had reported an adjusted net loss of 6.2 million pounds ($7.80 million) in the second quarter, hurt by lower revenue as the club played the less lucrative Europa instead of the Champions League competition this season.
And Berrada hoped the steps would benefit the club in the longer run.
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“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,” Berrada said.
