Arsenal to cut jobs as coronavirus bites

Sports

Arsenal to cut jobs as coronavirus bites

Thursday, August 06, 2020

Print this page Email A Friend!


LONDON, United Kingdom (AFP) — FA Cup winners Arsenal announced yesterday they were planning to cut 55 jobs due to the damaging effect of the coronavirus pandemic on the club's finances.

The Premier League outfit said their main sources of income had all been hit, including broadcast revenue, matchday takings and commercial activity.

Players and management have taken pay cuts during the COVID-19 lockdown, but the club said further savings were needed to weather the storm.

“Our aim has been to protect the jobs and base salaries of our people for as long as we possibly can,” said a statement signed by head of football Raul Sanllehi and Managing Director Vinai Venkatesham.

“Unfortunately, we have now come to the point where we are proposing 55 redundancies.”

Arsenal, who failed to qualify for the lucrative Champions League, said the outlook was bleak.

“Current indications are that we will not have fans back at Emirates Stadium for the start of next season and fans will only be able to return in limited numbers after that,” the statement said.

“The global economic projections are also very negative.

“This will impact the disposable income of our fans, the money corporate clients have to spend on hospitality and sponsorship, and the ability for broadcasters to invest in TV rights.”


Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaper-login


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT