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Manchester United to Cut Quarter of Workforce, Funnel Savings into Team Upgrades

Posted : 04 July 2024

Manchester United is set to reduce nearly a quarter of its workforce, affecting approximately 250 out of 1,100 employees, in a move aimed at reallocating funds towards enhancing on-pitch performance, according to sources familiar with the decision. Interim CEO Jean-Claude Blanc delivered the news to staff during a meeting on Wednesday, leaving many shocked as some have already been informed of their imminent departure, while others await news later this week.

 

The initiative, driven by new INEOS chairman Sir Jim Ratcliffe, is part of a broader financial review following his co-ownership acquisition in February. Ratcliffe intends to generate substantial savings, which will primarily be reinvested into bolstering the first-team squad and upgrading their facilities, with potential savings running into millions.

 

Sources emphasized that while the decision to downsize was not made lightly, there is a strong belief within the club that significant financial restructuring is essential to revitalize Manchester United's competitive edge. Additional cost-cutting measures have already been implemented, such as cancelling traditional staff travel and hospitality for events like the FA Cup final, reflecting a strategic shift towards fiscal prudence under the new ownership.

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