Arsenal Club Announcement
One of the reasons claimed by the club for carrying out such a cut is to be able to "maintain investment in the team".
Arsenal is currently negotiating the contract extension of Gabonese Pierre-Emerick Aubameyang.
"Our goal has been to protect jobs and salaries for our people for as long as possible. Unfortunately, we have reached the point where we have to propose 55 job cuts," said Arsenal in a statement signed by Raúl Sanllehí, director of football, and Vinai Venkatesham, CEO of Arsenal.
"These decisions have been made solely to ensure that we move this club forward and to create the right organization once the coronavirus passes, ensuring that we have sufficient resources to compete at the highest level in England and in Europe," they added.
This news comes after Arsenal won the FA Cup final over the weekend, confirming their participation in Europe next season, which represents an income of over 40 million euros for the London club.