Manchester United plans to cut 250 jobs, source says
By Yadarisa Shabong
July 3 (Reuters) -Manchester United MANU.N is proposing to cut about 250 jobs as part of a club-wide redundancy programme, a source close to the company told Reuters.
The job cuts would include all departments and levels of the club, except for its charitable arm Manchester United Foundation, according to the source.
The job cuts, first reported by the Daily Mail, would represent about 22% of its workforce.
The 20-times English champions, which saw its worst Premier League finish since 1990 at eighth place last season, is reviewing all aspects ahead of the 2024-25 season.
This also comes months after British billionaire Jim Ratcliffe took a 25% stake in Manchester United and took charge of their soccer operations to try to revive its fortunes on the pitch.
Manchester United had about 1,112 employees as of June last year, including players, coaches, administration staff and others.
The club, which is set to report third-quarter results on July 10, will welcome new CEO Omar Berrada, from Manchester City's parent company City Football Group, later this month.
Manchester United will play at the second-tier Europa League next season thanks to its FA Cup win, after having failed to qualify for the lucrative Champions League.
Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta
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