The overall number of employees has dropped from 1,100 to 700 in the past two years following controversial redundancies at United.
Cutting so many long-serving members of staff at a time of chronic under-performance on the pitch has been heavily criticised by many.
United believe it will help provide the financial capacity to invest in the playing squad while remaining compliant with the Premier League and Uefa financial rules.
Wages were cut by £51.5m to £313.2m, although most of this related to United failing to qualify for the Champions League, which triggered a 25% salary cut among the playing staff.
The figures also contain an ‘exceptional items’ expense of £36.6m, which includes compensation payments to former manager Erik ten Hag, interim boss Ruud van Nistelrooy and technical director Dan Ashworth.
Despite their relative lack of success, United are still predicting turnover of between £640m and £660m to June 2026.
The Snapdragon deal has helped them leapfrog back above Liverpool in terms of commercial revenue.
“As we start to feel the benefits of our cost reduction programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch,” said Berrada.
The figures show a £48.9m reduction in broadcasting revenue – the consequence of playing in the Europa League last season as opposed to the Champions League. This season United are not in Europe at all.
