Manchester United co-owners INEOS are set to axe more than 100 jobs as part of a ruthless plan to slash costs.
The Athletic have revealed that ‘botched INEOS decision-making has left ordinary workers at risk of unemployment’.
Staff members are still in the dark about the impending lay-offs but ‘the club’s executive has resolved they are necessary amid a challenging season’.
This will be a highly unpopular decision from Sir Jim Ratcliffe and his team. They have already drawn criticism from the club’s supporters for cutting 250 jobs last summer.
The latest move will only fuel the growing discontent among fans.
United are in a precarious financial situation, burdened by persistent poor performances and mounting interest payments.
Over the past five years, the club have racked up staggering cumulative losses totaling £370 million.
As of June 2023, the Red Devils employed 1,112 people monthly.
Liverpool and Arsenal had 1,008 and 723 employees respectively during the same period.
INEOS had the chance to start afresh last summer by sacking Erik ten Hag but chose to stick with him after the FA Cup triumph.
They backed him in the summer with a whopping £200m budget to sign Matthijs De Ligt, Joshua Zirkzee, Leny Yoro and Manuel Ugarte. The club also extended his contract.
However, poor decision-making soon backfired, as they were forced to spend over £21m to part ways with Ten Hag and his backroom staff.
Additional expenditure piled up when they brought Ruben Amorim to Old Trafford mid-season.
Their brief stint with sporting director Dan Ashworth also ended in December, marking another failed strategic move.
Players need to take full responsibility for their performances, as it is the regular employees who are facing the consequences of their inability to deliver on the pitch.
Ratcliffe must realise that his margin for error is razor-thin when it comes to leadership decisions, with every misstep costing the club dearly.
