Kemo
08-23-2023, 06:56 PM
:wwe5:
WWE will soon be entering unchartered waters as they prepare to be acquired by Endeavor, a change that is filling some with "doom and gloom."
It was in April that the historic news broke that WWE was set to be acquired by Endeavor for the hefty sum of $9.3 billion. News of the deal proved to be immediately beneficial for WWE, with the stock price rising dramatically, earning Vince McMahon $198 million in one day.
Shortly after news of the acquisition, WWE CEO Nick Khan said he was looking to make at least $50 million in 'aggressive' cuts to those working behind the scenes. This is a similar figure to the cuts made by UFC following their acquisition by Endeavor in 2016.
With Endeavor's acquisition of WWE expected to be finished by the end of next month, some in WWE are concerned about their futures. PW Insider reports that there is "a sense of doom and gloom" among some WWE employees who believe that if you're not in the production team or directly linked to talent, you could soon lose your job.
One long-time company employee noted UFC and WWE won’t need two of the same offices (e.g. travel offices, accounting departments, etc) following WWE's merger with UFC into TKO Group Holdings.
The report adds that there are a number of employees "quietly looking for their next job out of fear" of the expected upcoming layoffs. The cuts, and the end of the McMahon family ownership of WWE, have been a "big topic of conversation" among those working at WWE's offices in Stamford.
WWE will soon be entering unchartered waters as they prepare to be acquired by Endeavor, a change that is filling some with "doom and gloom."
It was in April that the historic news broke that WWE was set to be acquired by Endeavor for the hefty sum of $9.3 billion. News of the deal proved to be immediately beneficial for WWE, with the stock price rising dramatically, earning Vince McMahon $198 million in one day.
Shortly after news of the acquisition, WWE CEO Nick Khan said he was looking to make at least $50 million in 'aggressive' cuts to those working behind the scenes. This is a similar figure to the cuts made by UFC following their acquisition by Endeavor in 2016.
With Endeavor's acquisition of WWE expected to be finished by the end of next month, some in WWE are concerned about their futures. PW Insider reports that there is "a sense of doom and gloom" among some WWE employees who believe that if you're not in the production team or directly linked to talent, you could soon lose your job.
One long-time company employee noted UFC and WWE won’t need two of the same offices (e.g. travel offices, accounting departments, etc) following WWE's merger with UFC into TKO Group Holdings.
The report adds that there are a number of employees "quietly looking for their next job out of fear" of the expected upcoming layoffs. The cuts, and the end of the McMahon family ownership of WWE, have been a "big topic of conversation" among those working at WWE's offices in Stamford.