Man Utd job losses could hit 450 as Ratcliffe swings axe again
Manchester United have confirmed plans to make up to another 200 redundancies in a bid to arrest five years of continuous losses at the 20-time English champions.
It comes just months after Sir Jim Ratcliffe and Ineos slashed 250 jobs at Old Trafford and could take the total number of redundancies to 450 since he became a co-owner.
Manchester United’s £131m loss last year was the worst in the Premier League and they are more than £350m in the red since 2019, the last time that the club reported a profit.
Last week they revealed a £33m loss for the first half of the 2024-25 financial year, despite revenue of £342m, in large part due to interest on more than £1bn of borrowings.
“We have a responsibility to put Manchester United in the strongest position to win across our men’s, women’s and academy teams,” said United CEO Omar Berrada.
“We are initiating a wide-ranging series of measures which will transform and renew the club. Unfortunately, this means announcing further potential redundancies and we deeply regret the impact on those affected colleagues. However, 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.
“At the end of this process, we will have a more lean, agile and financially sustainable football club, while continuing to provide a world class service to our valuable commercial partners.
“We will then be in a much stronger position to invest in football success and improved facilities for fans, while remaining compliant with Uefa and Premier League regulations.”
The club said that “approximately 150-200 jobs may be made redundant, subject to a consultation process with employees”, in addition to the 250 roles removed last year.
Rumours of another round of job cuts emerged two weeks ago, on the day that many United luminaries were attending the funeral of club great Denis Law.
It comes as Ratcliffe and Ineos battle on several fronts, with the chemicals company downgraded this month by two credit rating agencies.
Ineos is also embroiled in a legal row with New Zealand Rugby over its sponsorship of the All Blacks and is planning to end another commercial deal with Tottenham Hotspur.
United’s income has suffered this season from their failure to qualify for the Champions League, while a return next term is likely to rest on the remote prospect of winning the Europa League.
They have also spent £14.5m on sacking former manager Erik ten Hag just months after extending his contract and firing Dan Ashworth after five months as sporting director.