Many WWE employees are being cut following the company’s takeover by Endeavor, with multiple company divisions taking the hit.
As of September 12th, WWE has officially merged with UFC under parent company Endeavor to form TKO Group Holdings. The takeover was met with great fanfare at the New York Stock Exchange and has resulted in massive earnings for Nick Khan, Triple H, and other WWE executives.
However, that same joy isn’t being felt by many former employees who now find themselves out of work. Ahead of the merger, it was reported that employees were “gritting their teeth” and “very scared” as mass layoffs were expected.
Sure enough, Nick Khan sent an email to staff instructing them to work remotely on September 15th as “work force reductions” were to begin in earnest.
How Many People Did WWE Fire On September 15th?
According to a report from Mike Johnson of PWInsider, both the WWE Network and Podcasting divisions have taken a great hit with many of those employees being let go. As of now, there is no specific information about how many people from those divisions specifically have been fired, or who those individuals are.
The report goes on to note that those backstage in WWE estimate 40-50 people have been let go so far, and the number could be higher. Johnson notes that this number should be taken with caution as emotions are high among those having the discussions, and there is no concrete information about the number of people let go at this time.
Multiple executives are also on their way out, as Chief Financial Officer and former President Frank Riddick III was announced to be leaving following the takeover. Jamie Horowitz, who was WWE’s Executive Vice President of Development and Digital, is also gone from the company.