Manchester United staff face redundancy as Sir Jim Ratcliffe focuses on ruthless cost-cuts

Lea Hogg March 6, 2024

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Manchester United staff face redundancy as Sir Jim Ratcliffe focuses on ruthless cost-cuts

Sir Jim Ratcliffe, the British billionaire who recently acquired a 27.7 percent stake in Manchester United for ￡1.3 billion, is set to initiate a ruthless cost-cutting drive that will see up to a quarter of the club’s staff let go. This move marks the beginning of Ratcliffe’s regime overseeing football operations at Old Trafford, a club that has struggled to keep pace with its rivals since the departure of Sir Alex Ferguson as manager in 2013.

Ratcliffe (photo above third from left), believes that the club, which currently employs nearly 1,200 people at Old Trafford – more than Liverpool, Manchester City, and Arsenal – is overstaffed and could operate more efficiently with a leaner team. The Glazers, who still own a significant stake in the club, are in agreement with Ratcliffe’s assessment.

This development will undoubtedly cause concern among employees who face the prospect of job losses before the start of the next season. In response, Ratcliffe plans to bring in top consultants to help restructure the club, with a particular focus on improving United’s commercial, merchandising, and match day departments.

New era of streamlining at Old Trafford

Despite achieving a record turnover of almost ￡649 million in October, Manchester United has been outperformed financially by its neighbour, Manchester City, which made more money the following month despite having fewer staff. Ratcliffe, known for his ability to make companies more efficient upon taking ownership, believes that a smaller team can boost responsibility, accountability, and creativity. This approach has proven successful at INEOS, which under Ratcliffe’s leadership, is known for its lean team and focus on quality over quantity.

Since finalising his deal with United last month, Ratcliffe has quickly made his mark behind the scenes at Old Trafford and plans to increase his influence in the coming months. He intends to assess the future of under-pressure manager Erik ten Hag this summer. Ten Hag has yet to convince many that he can achieve Ratcliffe’s ambitious goal of winning the Premier League title by 2027.

Ratcliffe’s arrival comes at a challenging time for the club, which is currently sixth in the Premier League table, 19 points off leaders Liverpool, and has lost 16 matches in all competitions this season. However, with Ratcliffe’s track record of success and his clear vision for the future, there is a sense of cautious optimism about what lies ahead for Manchester United.

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