Looking at the figures for Man Utd, they do seem over staffed, and to me that number of redundancies based on other Premier League Clubs seems reasonable, dependent on their workload compared to those other clubs ie being a 'bigger' club.
Would I do it, probably - dependent on who they let go.
From what I read voluntary redundancy and a guarantee of receipt of your annual bonus was also offered, so maybe handy to someone who has been there long term and thinking of calling it a day - however, that deadline has now passed, and it's reported take up was low, but I've seen no figures given for that.
When you think about players transfer fees and wages, it's mind boggling to think administration can have such an affect on budget, but hey ho, it;s the way of the world...or football in general.