Rangers delay job cuts

02 March 2012 09:16

Administrators at stricken Scottish giants Rangers on Friday postponed wide-ranging job cuts, but insisted their mission to save £1 million a month at Ibrox goes on.

Duff and Phelps said they were still hopeful of reaching a "consensual position".

Paul Clark, joint administrator, said in a statement: "We appreciate this has been an extremely difficult week for all the staff of Rangers Football Club and the supporters.

"As administrators, we had anticipated completing our review of staffing levels and cost structure of the Rangers business this week but the participation of a number of players in international fixtures did interrupt the process.

"In short, the Rangers business is trading at a substantial loss and we have no alternative but to fill an approximate £4.5million shortfall by the end of the season.

"It is therefore imperative that we find savings of approximately £1million per month to ensure the ongoing viability of the business.

"As has been widely publicised, there have been a number of discussions this week in an effort to achieve the necessary cost reductions.

"We are determined that all realistic options should be explored and today discussions have been ongoing with (manager) Ally McCoist who, in turn, has been speaking to his players and the PFA Scotland.

"We would prefer to reach a consensual position but as the day has gone on and tomorrow's very important match against Hearts looms larger, it has been agreed that any final decisions have been postponed until early next week."

Source: AFP