Turbulence within World Wrestling Entertainment (WWE) continues after Friday’s mass layoffs, a decision stemming from the Endeavor and UFC merger. This latest move seems to be wreaking havoc within the organization, leaving employees and staff in low spirits.
Following the drastic downsizing, WWE President Nick Khan reportedly announced an all-staff meeting scheduled for Tuesday at the WWE headquarters located in Stamford, Connecticut. However, this news didn’t seem to elevate the mood. Sources have informed PWInsider’s Mike Johnson, that the atmosphere at the office on Monday was “very bad and somber,” given speculation of potential future layoffs.
Speaking on this simmering fear, some WWE employees suspect that further job cuts might be a looming reality, given that not all departments were impacted by the initial round of layoffs.
Amidst the downsizing debacle, another heated topic in the wrestling rumor mill — Stephanie McMahon’s exit from the company. Several current and former WWE employees believe these layoffs might not have taken place if Stephanie had been in charge. However, Stephanie was potentially edged out by her father, Vince McMahon, making way for his return.
Last Tuesday, the WWE officials held their all-employees meeting, which was attended by Endeavor CEO Ari Emanuel, WWE President Nick Khan, and Vince McMahon, the Executive Chairman of TKO. Known sources have described the event as a “rara” type gathering, lasting about 15 minutes.
During this short meeting, Vince McMahon stated that he felt WWE had reached a growth bottleneck. He rationalized the layoffs as well as the UFC merger as integral moves to elevate the company to newer levels. Naturally, his comments triggered eye rolls and disagreements among the attendees, given WWE’s recent record-breaking business figures.
Some office insiders reportedly believe that McMahon’s aim is purely to regain control and power over WWE, despite his public-facing reasons.
On the Stephanie McMahon issue, there was acknowledgement of her popularity within the office. But many felt the layoffs would have still ensued considering the company merger, despite her efforts to save jobs. As one employee stated, her team was allegedly dismantled whilst she was still with the company.