2024-07-04 21:41:24
English Premier League (EPL) team Manchester United (Man U) is laying off 250 employees to improve management efficiency.
According to foreign media outlets such as The Athletic and BBC on the 4th (Korean time), Manchester United decided to cut 250 jobs to cut costs and reorganize non-essential businesses.
Currently, there are 1,150 full-time employees at Manchester United, and one in five will lose their jobs. The layoffs will affect all departments except the Manchester United Foundation, which handles charity work.
This is the first restructuring since the club’s owner changed.
Jim Ratcliffe, founder of global chemicals group Ineos, became the new owner of Manchester United in February by acquiring a 27.7% stake.
Under Ratcliffe, Manchester United immediately commissioned a consulting firm to investigate the club’s business and operating costs, which concluded that the club was too large for its performance and had too many employees.
In the end, Manchester United decided to make large-scale cuts. Interim CEO Jean-Claude Blanc had already announced the cuts at a meeting attended by 800 staff members.
The Athletic pointed out that Manchester United have too many staff compared to other EPL teams such as Liverpool, Arsenal and Manchester City.
Manchester United plan to use the saved money to invest in their first-team squad, but there are also criticisms about this large-scale layoff.
Manchester United has spent astronomical amounts of money every year to strengthen its team, but has failed to make the investment, and has not won the EPL trophy since the 2013-14 season. Some have criticized that Manchester United wasted much more money on failed player recruitment than they saved through layoffs.
(Seoul = News 1)
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2024-07-04 21:41:24