WWE and UFC merged into a new company, but TKO Holdings Group isn’t getting off to the best start within the company’s office. Employees were told to work from home today, because massive layoffs are expected. That is exactly what happened.
Ringside News previously reported that Jamie Horowitz has been released from WWE. He previously held the role of Executive Vice President of Development and Digital. WWE also fired Head of Marketing, Catherine Newman, from her position today. Amanda Bloom also joined that list of firings later on.
PW Insider reported that today marks a challenging and anticipated day for WWE employees, as rumors swirl within the company about a significant percentage of staff potentially facing job cuts.
Everyone we’ve spoken to is pretty much on pins and needles waiting to see if they receive word they need to jump on a Zoom call with the company, realizing that if they receive one, their time with the company has to be done. The fact everyone was separated has added to the sense of unease as well according to a few we’ve spoken with.
The exact number of employees affected remains unconfirmed, adding to the uncertainty. Those in the company are anxiously awaiting notifications to join Zoom calls, understanding that such communication likely signifies the end of their tenure. For weeks, employees have braced themselves for this new reality, and today it becomes a harsh truth.
The focus of today’s actions primarily centers on streamlining the workforce by eliminating redundant positions as the offices of UFC and WWE are merged. It is widely believed that the cuts will not impact the WWE roster, as well as production team, on-air talents, or individuals closely involved with talents, such as producers and coaches.
UFC and WWE are expected to keep their media rights deals separate, so they will have to keep certain people around, but this is still a very sad day for WWE. At this time, we have not heard about any massive cuts to UFC’s offices.
What’s your take on WWE laying off so many people today? Sound off in the comments to let us know what you think!