WWE wasn’t just sticking to wrestlers when they made drastic employee cuts recently. Several employees in the front office were also left looking for work. Among them were well-respected, long-time employees and high ranking officials. Nearly all of Stephanie McMahon‘s staff in the branding department was let go.
We now know that a couple who were both employed by the company have been broken up by the cuts. The moves also marked a major shift in responsibility by Stephanie McMahon herself. The cuts were discussed in this week’s Wrestling Observer Newsletter.
Most of Stephanie McMahon’s staff in branding was let go including Laura Petrocelli, who was said to be universally respected within the company and is the wife of longtime writer Ed Koskey. While not official, the belief seems to be with so many cuts in her department that the Branding department will merge into the Marketing department. This also seems to explain all the recent publicity pushes by WWE to promote Stephanie McMahon as the point person in marketing rather than as Chief Brand Officer.
It’s interesting that the CFO participated in the earnings call and then immediately left. Frank Riddick moving into the job probably comes with a lot of internal trust. His spot on the Board of Directors for over a decade and prior experience as an interim CFO likely mean there will be stability at the position.
WWE has announced that talent cuts are going to be a regular thing in the future. The front office staff has thus far not proven immune to these cuts. There could be even more “cost-cutting” measures coming very soon, and nobody seems safe.
Do you think more front office staff will be let go in the next round of WWE cuts? Let us know in the comments!