Swansea City warns employees of redundancies
22 March 2019
The Welch Championship club have sent out a letter to staff members with warnings of redundancies.
The Premier League relegation is the reason for the club’s financial suffering.
In a letter to all staff members, excluding the playing squad, manager Graham Potter and his coaching staff, Swansea City have warned about possible redundancies.
“After considering all possible options, the Companies have concluded that there is a risk that they will be unable to continue to provide work for all its employees and that they may therefore have to make redundancies,” the letter, which has been posted on twitter by an employee, said.
Swansea City have had financial struggles since relegating from the Premier League last season. In a statement last month, the club’s chief operating officer Chris Pearlman said:
"Relegation has seen our annual income this season drop by approximately £60 million. That is inclusive of the parachute payments we received from the Premier League."
The letter is sent out only a few days after the club appointed Trevor Burch as their new chairman. Birch is a chartered accountant with a background at audit firm Ernst & Young. He has also worked in chief executive roles at Leeds, Everton and Chelsea.
Trevor Birch, who will start his role in April, announced he would bring back stability to the club. However, according to media Wales Online, it is understood that the decision of the possible redundancies was made before Birch’s appointment.