Atletico Madrid introduce pay cuts for ‘guaranteeing the survival of the club’

Atletico de Madrid have declared an ERTE to reduce costs on employees: “With the sole objective of guaranteeing the survival of the club.”

As outlined by El Mundo, the move by the club will impact 500 of its employees including all players, coaches and physios employed by the club across its multiple categories.

The club is activating an ERTE – Spain’s temporary redundancy scheme which is activated by the state of emergency within the country, with businesses losing access to their profits.

statement released from Espanyol on Friday stated they had imposed a 70 percent pay cut for all of its staff and it is thought that the pay reduction at Atleti will be for a similar amount.

The coronavirus outbreak has brought sport across the world to a halt with Spanish football suspended indefinitely – meaning that all clubs have no income from matchdays or, for the elite clubs, their museums.

Spain is now behind only Italy on the global scale for the most deaths due to the virus, with the nation now 12 days into a 30-day state of lockdown.