The Reds made a statement on Saturday to announce that they would join Newcastle and Tottenham to place some of their workers in government.
The Premier League club, which announced a pre-tax profit of £ 42 million for 2018-2019 in February, was heavily criticized for its financial position during the pandemic.
However, they have been attacked by figures such as Jamie Carragher, Gary Lineker and Stan Collymore, and have now reversed their decision.
A statement from Liverpool CEO Peter Moore reads: “We have consulted with a range of key stakeholders as part of a process aimed at achieving the best possible outcome for all concerned.
“A range of possible scenarios was considered, including, but not limited to: applying for the Coronavirus Job Retention Scheme which pays 80% of the salary and guarantees payment of 20%; make a request to the Coronavirus Job Retention Scheme with a guarantee of reimbursement of amounts received at a later date and, thirdly, find another way to cover our living expenses.
“It was directly following this extensive consultation and our own internal deliberations at different levels in the club that we chose to find alternative means despite our eligibility to apply for the Coronavirus Job Retention Scheme program.
“We think we came to the wrong conclusion last week to announce that we intended to apply for the coronavirus and staff retention program due to the suspension of the Premier League football calendar, and we are really sorry.
“Our intentions were, and still are, to provide the entire workforce with maximum protection against layoffs and / or loss of income during this unprecedented period.
“So we are committed to finding alternative ways to operate when there are no football games going on, which ensures that we will not apply for the government assistance program.
About 200 staff members are believed to have been affected – receiving 80% of their salary as part of the government program with Liverpool by raising their salaries to make sure no one was “financially disadvantaged”.
The club has since turned around, with Moore adding, “We would like to thank the large army of staff and casual workers who work tirelessly to ensure that Liverpool is a club that operates to the highest standards.
“But in a spirit of transparency, we must also be clear, despite the fact that we were in good health before this crisis, our income has been closed and our expenses remain unchanged.
“And like almost all sectors of society, there is great uncertainty and concern about our present and our future.
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“Like any responsible employer who cares about its employees in the current situation, the club continues to prepare for a series of different scenarios, around the time when football can become operational again as before the pandemic.
“These scenarios go from best to worst and everything in between.
“It is inevitable that many of these scenarios will involve a massive drop in income, with unprecedented operating losses as a result.
“The fact that these vital financial resources are so deeply affected would obviously affect our ability to function as we have done before.
“We are engaged in exploring all avenues within our reach to limit the inevitable damage.
“We thank the many incredible people at our club, at all levels, who are committed to helping us do just that, despite the complexity and unpredictability in the world and our industry. “