- Staff told about redundancies on Wednesday
- Latest move in United’s cost-cutting measures
- INEOS handling business and football operations
WHAT HAPPENED?
According to The Athletic, staff were informed on Wednesday lunchtime of the intended redundancies, which are the result of cost-cutting measures advised by consultancy firm Interpath Advisory. It means nearly a quarter of United’s 1,112 employees will be impacted. The report adds that INEOS plans to make the cuts before the 2024-25 season gets underway.
THE EXPLANATION
INEOS, which acquired a 25 percent stake in the Premier League club in December, believes United’s workforce is bloated compared to their rivals – Arsenal’s accounts say they employ 689 people on average per month, while Man City (520) have less than half of United’s. By streamlining their workforce, United expect to make savings that will help them comply with the Premier League’s and UEFA’s financial rules, and tackle the transfer market more efficiently.
DID YOU KNOW?
The redundancies are the latest in a series of cost-cutting moves by Ratcliffe and INEOS since their arrival. A number of senior staff have already had club credit cards taken from them, and staff were made to contribute to the travel to the FA Cup final in May.
WHAT NEXT FOR UNITED?
While INEOS continue to get United’s spending under control, a new team tasked with returning the club to the top of the English football pyramid was recently bolstered with the appointment of Dan Ashworth as director of football. Ashworth will quickly get to work on recruitment, with Bologna striker Joshua Zirkzee reportedly nearing a move.
