• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Manchester United to Cut Jobs, Bonuses and Free Lunches to Restore Profits

5 months ago
in Features, highlights, Home, home-news, latest News, Lifestyle, Sports
1 min read
0 0
0
77
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Manchester United to Cut Jobs, Bonuses and Free Lunches to Restore Profits

Manchester United will cut around 150-200 more jobs as part of an overhaul to return to profitability after five years of losses, the Premier League soccer club said on Monday.

The plan is in addition to 250 jobs removed last year, the club said. The club has been restructuring and cutting costs since British billionaire Jim Ratcliffe took a 25 per cent stake last year and took charge of soccer operations to try to revive its fortunes on the pitch.

In September, the 20-time English champions reported its fifth straight annual loss as it missed out on the lucrative European Champions League competition.

“We have lost money for the past five consecutive years. This cannot continue,” CEO Omar Berrada said in a statement.

The restructuring plan includes an end to free lunches for staff in the Old Trafford canteen to save more than one million pounds a year, a source close to the club told Reuters.

Some staff will move from Old Trafford to the new training facility at Carrington near Manchester and all the club’s leadership will be based in Manchester, the source said.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Executive bonuses will be paid at a reduced rate this year and then transition to a revised scheme based more firmly on the club’s football and financial performance, the source added.

The club’s charitable donations will be focused on Manchester United Foundation and Manchester United Disabled Supporters’ Association, the source said, and it is in talks with MUF about the level of its contribution.
The club will stop donations to other charitable causes, the source also said.

The foundation, which provides educational and community outreach programmes aimed at young people, raised £608 000 from season ticket holders and online donations in 2023/24, according to its website.

“At the end of this process, we will have a more lean, agile and financially sustainable football club,” Berrada said.
Manchester United finished eighth in the league last season. The team currently sits in 15th place in the Premier League.

Last week, Manchester United admitted challenges after reporting an adjusted net loss of £6.2 million in the second quarter.

The shares, which have lost about 16 per cent so far this year, were up 0.5 per cent on Monday.
Ratcliffe’s purchase of a $1.25 billion stake a year ago was met with excitement by fans but that enthusiasm has ebbed away over the past 12 months after a poor showing on the field.

Tags: Bonuses and Free Lunches to Restore ProfitsManchester United to Cut Jobs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.