Manchester United has announced redundancy costs of £8.6 million for the first quarter of its fiscal year 2025 as part of a larger workforce reduction plan driven by Sir Jim Ratcliffe, aiming to cut 250 jobs and reduce costs.
Manchester United has incurred costs of £8.6 million for redundancies in the first quarter of the fiscal year 2025, as part of a larger effort to reduce its workforce by 250 employees. The decision, driven by Sir Jim Ratcliffe , the club's largest minority shareholder, began in July and mostly affected staff in the summer and autumn. The move aims to cut costs and streamline operations.
The club's latest accounts show that the total debt stands at £714 million, attributed to 'non-current borrowings' of £481.7 million and 'current borrowings' of £232.3 million, which has increased from £36.5 million from June's fiscal year-end report due to the club's 'revolving credit facility'
Manchester United Sir Jim Ratcliffe Redundancies Workforce Reduction Financial Report
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