WWE 'Workforce Reductions' To Take Place Friday
Expected firings to come just days after WWE-UFC merger is finalized.
Friday is not going to be a good day for many office workers across WWE, as the company plans to downsize as part of its merger with UFC earlier this week, WWE President Nick Khan announced Thursday.
The sports entertainment juggernaut and MMA leader officially joined forced this week as TKO Group Holdings, the end of a wild journey that saw Vince McMahon force his way back into the company just months after he resigned in disgrace, only to force a sale of the family-owned business.
In a memo sent to WWE employees Thursday, Khan said that as a result of the merged TKO Group Holdings, WWE was looking "to identify potential synergies," which "includes workforce reductions, which will take place [Friday]."
The company is having its employees work remotely on Friday as their human resources team notifies those losing their jobs.
It has not been reported exactly how many employees could be terminated or if there are certain areas of the company that will be more affected than others.
This was sent out internally within WWE
"As part of WWE's transition into the newly formed TKO Group Holdings, we are evaluating our existing operations and systems to identify potential synergies across the business. This effort includes workforce reductions, which will take…
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McMahon resigned in disgrace amidst multiple allegations of sexual misconduct in July 2022. He returned as Executive Chairman in January for the express purpose of selling the company. Immediately after WrestleMania 39, it was announced WWE and UFC would merge to form one combat sports giant.
As part of the merger that was finalized Tuesday, several WWE executives received sizable "sale bonus" cash payments (as reported by Variety), including "Khan ($15 million), Kevin Dunn, executive producer and chief, global television distribution ($7 million), chief content officer Paul “Triple H” Levesque ($5 million) and CFO Frank Riddick ($5 million)."
Best wishes and thoughts go out to the workers and families affected by Friday's announcements.