Redundancies at the Academy

[animal]

Was out for a pint today and met a couple of supporters who told me that requests for voluntary redundancy letters are out to Academy staff, including the top coaches (the very people that identify upcoming talent like McGinn, Reid, Erhahon etc) with the possible exception of one.

 
My sources said this is not a case of a particular job being made redundant so it has to be cost cutting as it is a broad brush approach.

They both also informed me that we are well over a million in debt now and the chairman only confirmed this was the situation under pressure of questioning at the recent SMISA meeting. 

I really hope this is not the case. The Academy is a proven success story and the core of our club. We totally depend on the team there for future gems. It should be the last stop for cutbacks! 

 

[beyond our ken]

I really hope this isn't true.  I read the rumour of the £1 million debt but thought that had still to be confirmed.

If there has to be some, I would hope that any redundancies will be across the whole club and not just focussed on the academy.  It will be hard to find alternative employment in the same field and those who do get similar jobs will be strengthening our competitors.

Shit situation if true and worthy of a full explanation to the shareholders.

[elvis]

Next stop liquidation.

[exiledfan]

I don't get it. That's some financial irresponsibility to be 1 million in debt. It's not like we splash the cash on expensive signings and surely if that was the case we would have banked all the componsation for JG to service losses and manage debts. We would also have been flogging the Dylan Reid's of the world and not bringing in players like Declan Gallagher. 

 

[Rascal]

8 minutes ago, elvis said:

Next stop liquidation.

Maybe Elvis but not necessarily. As others are saying, these are rumours. Even if true that we have that debt level the questions I would ask would be: How did we run up that debt and how does the board plan to service it and have we financed it from our own funds or have we borrowed it and if so from whom?

[beyond our ken]

19 minutes ago, exiledfan said:

I don't get it. That's some financial irresponsibility to be 1 million in debt. It's not like we splash the cash on expensive signings and surely if that was the case we would have banked all the componsation for JG to service losses and manage debts. We would also have been flogging the Dylan Reid's of the world and not bringing in players like Declan Gallagher. 

 

Cheap signings of poor players cost money just the same as expensive signings do.  Some of less-productive and unproductive signings have been on good salaries.  we certainly cleared the decks in the last 3 transfer windows and that must have  cost.

Scrutiny of the accounts is mandatory and the areas of loss will be briadly identified without always pinpointing single catastrophic events.  Sounds to me that the club could do with both the family stand levy and the revenue we would get from the filth.

On to two of my hobby horses, how much extra off-the-field income has our association with Kibble provided?  And how did this get by the authors of the sustainability report that marked us out as a well-run club?

 

Edited July 26, 2022 by beyond our ken

[beyond our ken]

4 minutes ago, Rascal said:

Maybe Elvis but not necessarily. As others are saying, these are rumours. Even if true that we have that debt level the questions I would ask would be: How did we run up that debt and how does the board plan to service it and have we financed it from our own funds or have we borrowed it and if so from whom?

the last question is the most pertinent one, if the debt exists then we owe that money to someone.

[exiledfan]

4 minutes ago, Rascal said:

Maybe Elvis but not necessarily. As others are saying, these are rumours. Even if true that we have that debt level the questions I would ask would be: How did we run up that debt and how does the board plan to service it and have we financed it from our own funds or have we borrowed it and if so from whom?

I also wonder why Lasley would have agreed to start his career as a COO at a sinking ship. I think this is a rumour as opposed to fact. 

 

[HSS]

1 hour ago, animal said:

Was out for a pint today and met a couple of supporters who told me that requests for voluntary redundancy letters are out to Academy staff, including the top coaches (the very people that identify upcoming talent like McGinn, Reid, Erhahon etc) with the possible exception of one.

 
My sources said this is not a case of a particular job being made redundant so it has to be cost cutting as it is a broad brush approach.

They both also informed me that we are well over a million in debt now and the chairman only confirmed this was the situation under pressure of questioning at the recent SMISA meeting. 

I really hope this is not the case. The Academy is a proven success story and the core of our club. We totally depend on the team there for future gems. It should be the last stop for cutbacks! 

 

If this was the case would it not be all over the internet/papers? 

[elvis]

19 minutes ago, exiledfan said:

I also wonder why Lasley would have agreed to start his career as a COO at a sinking ship. I think this is a rumour as opposed to fact. 

 

So your saying redundancies are a rumour

[beyond our ken]

22 minutes ago, exiledfan said:

I also wonder why Lasley would have agreed to start his career as a COO at a sinking ship. I think this is a rumour as opposed to fact. 

 

If it is at all true then Lasley would be the person calling the shots on redundancies and other cost-cutting.  I do hope this is all bollocks

[exiledfan]

24 minutes ago, beyond our ken said:

If it is at all true then Lasley would be the person calling the shots on redundancies and other cost-cutting.  I do hope this is all bollocks

"A man in a pub said" is usually a rumour 

[Cumbriansaint72]

53 minutes ago, beyond our ken said:

Cheap signings of poor players cost money just the same as expensive signings do.  Some of less-productive and unproductive signings have been on good salaries.  we certainly cleared the decks in the last 3 transfer windows and that must have  cost.

Scrutiny of the accounts is mandatory and the areas of loss will be briadly identified without always pinpointing single catastrophic events.  Sounds to me that the club could do with both the family stand levy and the revenue we would get from the filth.

On to two of my hobby horses, how much extra off-the-field income has our association with Kibble provided?  And how did this get by the authors of the sustainability report that marked us out as a well-run club?

 

On the subject of unproductive players on big salaries. Sorry to put it plainly, brophy, a perfect example. I really don't see this season being any different.

[FTOF]

20 minutes ago, Cumbriansaint72 said:

On the subject of unproductive players on big salaries. Sorry to put it plainly, brophy, a perfect example. I really don't see this season being any different.

Indeed. Our previous manager has a lot to answer for.

 Main's contribution so far, on a substantial  salary too, is worse.

 

[animal]

Sorry to have to say it, but I have just confirmed the redundancies and the debt from a second reliable source. 

[FTOF]

I doubt you're sorry at all.

You just love the attention.

[faraway saint]

1 minute ago, FTOF said:

I doubt you're sorry at all.

You just love the attention.

Indeed, ONLY posts negative stuff about the club. 

[exiledfan]

10 minutes ago, animal said:

Sorry to have to say it, but I have just confirmed the redundancies and the debt from a second reliable source. 

Shuggie at the shell garage 

[faraway saint]

4 minutes ago, exiledfan said:

Shuggie at the shell garage 

Please, no names. 

[FTOF]

Might the fact that we're currently paying off an interest free government covid loan of £1.7 million, over 20 years, be contributing to the financial "debt" rumours?

Covid in Scotland: Director pay and bonus rules for SPFL clubs' loan - BBC News

[faraway saint]

1 minute ago, FTOF said:

Might the fact that we're currently paying off an interest free government covid loan of £1.7 million, over 20 years, be contributing to the financial "debt" rumours?

Covid in Scotland: Director pay and bonus rules for SPFL clubs' loan - BBC News

That's nowhere near as "exciting" as the OP's version. 

[beyond our ken]

19 minutes ago, FTOF said:

I doubt you're sorry at all.

You just love the attention.

Probably not!

[beyond our ken]

17 minutes ago, exiledfan said:

Shuggie at the shell garage 

Is the Shell garage still open?

[FTOF]

9 minutes ago, faraway saint said:

That's nowhere near as "exciting" as the OP's version. 

I also remember the club issuing redundancy notices "between managers" previously, with Stuart Gilmour assuring us that this was normal practice when a new manager was appointed, as they may want new staff.

Maybe Robinson wants to replace some people. Or did it happen when Robinson was appointed and it's only surfacing now? Of course it could just be something that's down to the current financial climate.

Or am I being too reasoned in my speculation?

Gilmour dismisses fears of mass redundancies at St Mirren - Daily Record

Edited July 26, 2022 by FTOF

[exiledfan]

It may also be that Lasley wants to restructure to his philosophy for running the club.