Euan Blair's Firm Cuts Staff, Boosts Pay

Euan Blair, son of former prime minister Tony Blair, received a significant personal income of £246,053 from his technology firm, Multiverse, in the year concluding March 2025. This financial disclosure comes at a time when the 'EdTech' company implemented 55 staff redundancies. The company's annual report highlighted a strategic shift, noting, "We are employing slightly fewer people but rewarding them more," as staff costs rose by 16% despite a 1% decrease in headcount.

Multiverse, established by Blair in 2016 to facilitate apprenticeships, reported a 36.2% increase in sales, reaching £79.6 million. However, this revenue growth was outpaced by rising expenses, leading to an increase in the company's net losses from £60.6 million to £63.3 million. The firm, previously valued at £1.4 billion in a 2022 funding round, continues to navigate a challenging economic landscape.

Despite the recent workforce reductions and widening losses, the company's focus remains on its core mission of providing training and apprenticeships. The financial report indicates a period of adjustment for Multiverse as it aims to balance growth strategies with operational efficiency, while its founder's remuneration remains a notable point of discussion.