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SHOCKED Rangers staff were told Christmas has been cancelled yesterday as the financially stricken club continues a slash costs across the business.

Record Sport revealed yesterday how the fallen giants were left reeling at the weekend when less than 20,000 fans came through the turnstiles.

Saturday’s 1-0 win over Cowdenbeath - the lowest crowd for a home league game in 28 years.

And the extent of the current cash crisis engulfing the club became even more evident at lunchtime yesterday when non-executive director Derek Llambias sent a circular to all non football employees to reveal that they will not be receiving their traditional seasonal gift from the club and that the yearly festive bash at Ibrox has been scrapped.

(Image: PA)

Llambias was appointed to the board as Mike Ashley’s axe man and has put in place an extensive programme of austerity of cost cutting which recently included a raft of job losses.

Against the gloomy backdrop - and with Ashley’s emergency loans being used to keep the club in business - he has decided it would neither be affordable nor ethical Rangers to treat what’s left the workforce in the time honoured fashion.

Last year all workers received a voucher worth £50 for Marks & Spencer as well as a free Christmas knees-up on the company at in one of the stadium’s corporate suits.

But it’s now believed some workers are organising their own office party instead.

(Image: SNS)

One source said: “We were given the news in an e-mail from Llambias and it’s another big blow to morale inside the club. We were told that these measures were being taken ‘due to the current financial position’. Llambias said it was ‘regrettable’ while thanking the staff for their hard work and commitment during what he described as ‘this difficult time’.

“The Christmas party has also been cancelled. It just shows what a mess this club is now in.”

Rangers last night declined to make any official comment but a source close to the board said: “This is a consequence of the club’s current financial situation. Cuts have to be made across all departments.

“If just one job can be saved by pulling the plug on a Christmas party then so be it.”

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