This archive report was first published on 5 August 2020.
On August 5, 2020, FA Cup winners Arsenal revealed they were planning to reduce their workforce by 55 jobs due to the severe financial strain caused by the COVID-19 pandemic.
The club's main sources of income, including broadcast revenue, matchday takings, and commercial activity, have all been significantly affected.
Players and management have already taken pay cuts during the lockdown, but the club stated that further savings were necessary to weather the financial storm.
According to a statement signed by head of football Raul Sanllehi and managing director Vinai Venkatesham, the club's aim was to protect jobs and base salaries for as long as possible.
However, they have now reached a point where they are proposing 55 redundancies.
Arsenal's outlook is bleak, with the club anticipating that fans will not be able to return to Emirates Stadium for the start of the next season and will only be able to return in limited numbers after that.
The global economic projections are also very negative, which will impact the disposable income of fans, corporate clients' ability to spend on hospitality and sponsorship, and broadcasters' ability to invest in TV rights.
