WWE employees have been informed that layoffs will commence tomorrow (September 15) following the recent completion of the TKO merger.
WWE President and TKO Board of Directors member Nick Khan emailed all employees today, directing them to work from home tomorrow as “workforce reductions” will be taking place.
The full email, as reported by PWInsider, was as follows:
Hi All,
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 place tomorrow.
Those who’s roles have been impacted will be notified by our Human Resources Team, who will share the details of their severance package. We are asking that everyone work remotely, Friday September 15th, so we can insure all conversations are handled privately and respectfully. We’ll send out a company-wide email once all of tomorrow’s conversations have happened.
Our company is home to the those most talented, creative, and hardworking employees in the world. WWE is a special place, which makes moments like this difficult. Just know that we have nothing but gratitude and admiration for everyone we have had the privilege to work alongside.
Thank you for all your contributions and dedication
Nick Khan
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 place tomorrow.
Those who’s roles have been impacted will be notified by our Human Resources Team, who will share the details of their severance package. We are asking that everyone work remotely, Friday September 15th, so we can insure all conversations are handled privately and respectfully. We’ll send out a company-wide email once all of tomorrow’s conversations have happened.
Our company is home to the those most talented, creative, and hardworking employees in the world. WWE is a special place, which makes moments like this difficult. Just know that we have nothing but gratitude and admiration for everyone we have had the privilege to work alongside.
Thank you for all your contributions and dedication
Nick Khan
This was always expected to happen after the merger and employees in WWE and UFC/Endeavor have been worried about this eventuality for quite some time.
The likely idea behind a lot of them is that if you have someone doing a particular job for WWE, and someone doing the same job for Endeavor/UFC, the new merged TKO company actually only needs one of those people to do that job now instead of both.
The likely idea behind a lot of them is that if you have someone doing a particular job for WWE, and someone doing the same job for Endeavor/UFC, the new merged TKO company actually only needs one of those people to do that job now instead of both.
There’s no word yet on any talent cuts, which is obviously an entirely different situation than employees.
WWE’s Chief Financial Officer, Frank Riddick III, departed the company after the merger was completed, although it’s not known if he was let go or if it was of his own volition.
We’ll keep you posted with any further updates.
WWE’s Chief Financial Officer, Frank Riddick III, departed the company after the merger was completed, although it’s not known if he was let go or if it was of his own volition.
We’ll keep you posted with any further updates.
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