Staff layoffs are coming following the merger being completed.
This week, Endeavor completed the transaction to merge WWE and UFC to form the new sports and entertainment company, TKO Group Holdings.
With the companies merging, employees are being laid off. PWInsider noted that WWE President Nick Khan issued an email to all employees to tell them to work remotely on September 15th as layoffs are set to begin. Employees were asked to remain home to allow the Human Resources department to make those layoffs in a private manner. Below is the email from 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 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.