Boston Consulting Group has spent the past three months carrying out the review, understood to be focused on the club's approximately 800-strong non-footballing workforce, with managing director Jean-Paul Petranca leading the process and reporting directly to chief executive Richard Garlick.
Petranca has more than 20 years' experience advising senior leaders on strategy, transformation and organisational performance, according to BCG's own website.
Arsenal have declined to comment on the review, though insiders maintain BCG's role is to help the club capitalise on last season's success and build a platform for sustained performance, having won the Premier League for the first time in more than 20 years and reached the Champions League final. Sources say the process has nonetheless created a split within the club's offices, with many staff members convinced job cuts are inevitable and a growing sense of anger that the football department will emerge unscathed.
Nervousness is said to be particularly acute in the commercial department, which lost its long-serving boss, chief commercial officer Juliet Slot, over the summer after almost five years in the role that oversaw record-breaking revenues. Some staff are understood to be struggling to see the logic behind cuts to that side of the business, given clubs like Arsenal rely heavily on commercial income to remain compliant with the Premier League and UEFA's spending regulations.
Many within the building believe the priority should instead be on deepening relationships with existing sponsors while pursuing new partnerships.
One staff member, speaking anonymously, described the mood inside the club.
"Obviously everyone was delighted at the success of the team last year. But it has not gone unnoticed that the football department, which has extended recently, appears immune to any changes," they told the Daily Mail. "It doesn't feel right that, given the amount of money spent there, normal people with bills and mortgages to pay feel under threat.
"You would think that it's a great place to be at the moment but that's just not the case. There's also an anger that, should there be cuts, they will be made by someone from outside the business rather than your own boss."
Arsenal were the ninth-highest net spenders in the Premier League over the summer transfer window, bringing in players including Bruno Guimaraes and Ezri Konsa, while selling the likes of Leandro Trossard and Gabriel Martinelli following their title-winning campaign.