Arsenal have announced they are to seek 55 redundancies as the financial impact of the Covid-19 crisis starts to really take a bite.
A statement this afternoon, co-signed by Head of Football Raul Sanllehi, and Managing Director Vinai Venkatesham, says that the loss of revenue from match day income, broadcasting, commercial activity has left them with no choice but to propose layoffs.
They insist that despite restructuring the stadium debt, as well as tightening spending at all levels, job losses are inevitable.
The statement, in part, reads:
Over recent years we have consistently invested in additional staff to take the club forward but with the expected reduction of income in mind, it is now clear that we must reduce our costs further to ensure we are operating in a sustainable and responsible way, and to enable us to continue to invest in the team.
Our aim has been to protect the jobs and base salaries of our people for as long as we possibly can. Unfortunately, we have now come to the point where we are proposing 55 redundancies.
We do not make these proposals lightly and have looked at every aspect of the club and our expenditure before reaching this point. We are now entering the required 30-day consultation period on these proposals.
We know this is upsetting and difficult for our dedicated staff and our focus is on managing this as sensitively as possible.
These proposed changes are ultimately about ensuring we take this great football club forward, creating the right organisation for a post-Covid world, and ensuring we have the resources to return to competing effectively at the top of the game here and in Europe.
Arsenal, it’s worth remembering, are owned by a billionaire whose net worth is estimated to be in the region of $8bn, and for whom covering the salaries of 55 employees would barely be a drop in the vast ocean of his fortune – even with the LA stadium project ongoing.
KSE also pushed through pay cuts on the playing squad almost as soon as the pandemic started, and to this date we remain the only Premier League to have implemented such measures.
It’s a real shame that 55 ‘ordinary’ people are going to lose their jobs during this incredibly difficult time, and it’s shameful that the ownership – who are willing to sanction significant outlays on players and agents because of their cosy relationships with club executives – are allowing this to happen.
Trying to frame the relatively trifling savings these job cuts will have as something which will allow us to invest is the team isn’t going to wash with any fan with a modicum of common sense.
We have to let 55 people go so we can pay a month of Willian’s wages? That’s not it.
Best of luck to everyone who might be affected.
55 jobs at, let’s say an average £50,000 a year, is £2.75m.
When you consider some of the deals we’ve sanctioned for players, and the fees paid to them and certain agents, it’s shameful the club see fit to let 55 hard-working people lose their jobs at this moment in time. https://t.co/fIEJNFvJZg
— arseblog (@arseblog) August 5, 2020