Felix Upton on August 9, 2023
WWE and UFC are merging into one TKO Holdings Group, and there will be a lot of changes after that completes later this year. Now, we are hearing new rumblings about possible cuts coming soon.
As the final stages of the WWE-Endeavor deal approach, indications suggest that employee reductions are likely to be unavoidable. In an earnings report released recently, Endeavor confirmed that it anticipates the completion of its merger between WWE and UFC during the latter part of September 2023.
During Endeavor’s earnings call, CEO Ari Emanuel revealed that preparations are in progress to realize immediate cost savings and synergies following the merger’s conclusion. This suggests that employee layoffs are highly probable, encompassing both WWE and UFC staff members, given the consolidation into a singular entity named TKO.
On the call, Endeavor CEO Ari Emanuel added that plans are underway to make cost savings and synergies happen immediately upon closing.
As for potential releases of WWE talent, that stands as a distinct matter from the “workforce.” Currently, there is no information regarding whether this will be part of the planned cost-cutting measures.
It was previously reported that talent cuts is not part of the conversation backstage in WWE. This was a matter of concern a little while ago, but not so much anymore. It seems that talent cuts is not something that they think will happen, but that same thing is not true for internal employees.
A lot of mergers see layoffs, because redundancies are found. After all, both companies will have similar departments with people doing the same jobs. UFC and WWE will run separately, but it’s anyone’s guess how much that merger will affect the companies’ internal structure.
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August 9, 2023 10:56 am
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