It was reported in the past that WWE will be undergoing releases as soon as the company’s merger with Endeavor was completed and the WWE and UFC was combined under the same umbrella to form the TKO Group Holdings.
According to PWInsider.com, WWE President Nick Khan issued an internal e-mail to all of the company’s employees, where he announced that they must work remotely today, September 15th as they will begin their post-acquisition layoffs. Khan asked all of the company’s employees to stay home and work from there, so that the Human Resources department can handle the layoffs privately.
It remains to be seen if today’s layoffs will include in-ring competitors, but it was said this past Tuesday that Endeavor is looking to cut WWE’s costs from $50 million to $100 million after cutting $70 million from UFC’s costs in the first 18 months of ownership.
You can check out Nick Khan’s email below:
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 whose 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 most talented, creative, and hard-working 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
