About 250 members of staff were made redundant last year in a first wave of cost-cutting measures by co-owner Sir Jim Ratcliffe.

In a meeting with staff on Monday, United chief executive Omar Berrada informed employees that there would be a fresh round of redundancies as part of a “transformation plan”.

A club statement read: “The transformation plan aims to return the club to profitability after five consecutive years of losses since 2019.”

It added that “approximately 150-200 jobs may be made redundant, subject to a consultation process with employees”, with the process expected to take between three and four months.

As of 30 June 2024, Manchester United had 1,140 employees, so 450 redundancies would be 39% of the club’s workforce.

Last week the club revealed a loss of £27.7m in their second quarter financial results and the Red Devils have lost more than £300m over the past three years.

United are on course for their lowest finish in the Premier League era as Ruben Amorim’s team are 15th in the table after Saturday’s 2-2 draw at Everton.

The club statement added that the additional measures are being taken to “improve the club’s financial sustainability and enhance operational efficiency.

“This will create a more solid financial platform from which the club can invest in men’s and women’s football success and improved infrastructure.”

Berrada said: “We have a responsibility to put Manchester United in the strongest position to win across our men’s, women’s and academy teams.

“These hard choices are necessary to put the club back on a stable financial footing.

“We have lost money for the past five consecutive years. This cannot continue.

“Our two main priorities as a club are delivering success on the pitch for our fans and improving our facilities. We cannot invest in these objectives if we are continuously losing money.”

According to last season’s ‘merit’ payments from the Premier League, if United remain in their current 15th position they will receive £16.9m – almost £20m less than the £36.7m they earned for finishing eight last term.

Winning the Europa League is the team’s only realistic avenue of qualifying for next season’s Champions League and should they fail to do so, they will suffer a £10m annual drop in their sponsorship deal with Adidas.

That is likely to put further pressure on United’s chances of bolstering Amorim’s squad in the summer and will bring greater scrutiny on the wisdom of so many of United’s recent transfer dealings.