Premier League team Manchester United is to cut up to 200 jobs, including reducing its London office, in an attempt to return to profitability after five years of losses.
The club’s new plan comes a few days after billionaire Jim Ratcliffe’s anniversary as part-owner, and following 250 job cuts last year, from a high of over 1,150 staff. After continuing to trim it’s work force, the club says it will also end free lunches at Old Trafford, in order to save over £1 million a year.
About 250 members of staff were sacked last year in a first wave of cost-cutting measures by co-owner Sir Jim Ratcliffe.
In a meeting with staff on Monday, Manchester United chief executive Omar Berrada informed employees that there would be a fresh round of retrenchment as part of a “transformation plan”.
A club statement read: “The transformation plan aims to return the club to profitability after five consecutive years of losses since 2019.”
It added that “approximately 150-200 jobs may be made redundant, subject to a consultation process with employees”, with the process expected to take between three and four months.
As of 30 June 2024, Manchester United had 1,140 employees, so 450 retrenchment would be 39% of the club’s workforce.
Last week the club revealed a loss of £27.7m in their second quarter financial results and the Red Devils have lost more than £300m over the past three years.
United are on course for their lowest finish in the Premier League history as Ruben Amorim’s team are 15th in the table after Saturday’s 2-2 draw at Everton.
The club statement added that the additional measures are being taken to “improve the club’s financial sustainability and enhance operational efficiency.
“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.”
Berrada said: “We have a responsibility to put Manchester United in the strongest position to win across our men’s, women’s and academy teams.
“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.”
Editor Paul Akhagbemhe
