ECB Announces Job Layoffs
Employed personnel with the England & Wales Cricket Board were furloughed on September 26th. The ECB was forced into making this decision after profits continue to dwindle during the coronavirus pandemic. Nobody had anticipated the England & Wales Cricket Board to announce that 62 employees lost their jobs. It’s unknown if these individuals were provided severance packages from the ECB, with that likely not be the case with continued losses being sustained.
An official statement regarding the unfortunate layoffs was issued by Tom Harrison, the Chief Executive Officer of the England & Wales Cricket Board. Harrison mentioned that throughout several months, unthinkable scenarios have been placed onto ECB leaders & forced them to make unwanted decisions. Tom Harrison’s prompt words reflected that the professional sport of Cricket in the United Kingdom is at risk. Harrison believes that COVID-19 will be the most prominent challenge that ECB faces in the modern era. The CEO finalized his statements by saying the future is uncertain, and that they have to take the steps required to ensure financial sustainability for ECB future generations.
The England & Wales Cricket Board have lost £100 million throughout the first eight months of 2020, with that figure expects to extend towards £200 million by 2021. Financial losses accumulating more than £300 million would finalize the closure of EBCs future campaigns. One factor that enables the England & Wales Cricket Board to sustain safeguarded finances is by furloughing employed personnel. The 62 positions terminated allowed a 20% increase in their workforce budget, which will be restructured towards internal savings.
Most supporters are shocked that the ECB have sustained such losses, with all eighteen international matches for 2020 still being played before December 31st. Those matches haven’t meant consumer attention for Jersey Kits, Team Memorabilia, and Signed Autograph’s. Most teams in the ECB have begun contacting sportsbooks to receive sponsorship, providing them minimal profits for this year & minor sustaining for 2021.
It should be clarified that Tom Harrison’s ECB is steadily declined, with employed personnel having been told previously that salaries would drop by 25%. The Chief Executive Officer hopes that additional furloughs aren’t required throughout 2021 & will gain investor financial aid if needed to sustain the ECB.