Arsenal has continued to struggle financially due to the impact of covid19 and that has led them to propose 55 redundancies.
The Gunners have been one of the worse-hit teams in the Premier League because of their absence from the Champions League for several years, which has reduced their revenues.
The absence of matchday revenue from fans at the Emirates as well as a drop in TV revenue has also seen their income nosedive.
After asking their players to take a pay cut at the outset of the coronavirus pandemic, it seems that things haven’t gotten any better.
The club had wanted to protect the incomes of their many staff, but things haven’t gotten better financially, and they have now released a statement saying that they are proposing 55 redundancies due to the impact of covid19 on their finances.
They acknowledged that the club owners have made financial contributions to help them at this time, but it is still not enough and they hope to achieve more with the redundancies.
The statement reads in part: “…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. ”
