Morale Sinks as WWE Employees Face Pay Stagnation & Loss of Stock Perks

WWE employees hoping to score company stock at a discount just got some disappointing news—TKO isn’t having it.

Before WWE’s merger with TKO in September 2023, workers could buy shares at a 15% discount, a solid perk that many took advantage of. But after months of employees pushing for answers in town hall meetings, HR finally shut it down for good this week.

An internal email obtained by Wrestlenomics laid out the harsh reality. “Due to TKO’s corporate structure, we are unable to launch a new Employee Stock Purchase Plan that offers the same type of individual tax benefits that were previously offered by the WWE plan,” the email read.

Instead, TKO is handing out stock grants, but don’t expect that to apply to everyone. The email clarified that these grants are primarily for “eligible employees as part of our Long-Term Incentive Plan”—code for top executives and higher-ups.

For those who previously benefited from WWE’s stock program, their shares were automatically converted to TKO stock after the merger. But that doesn’t do much for employees who were banking on continued discounted access under the new ownership.

And it’s not just the stock program—morale among WWE employees is reportedly sinking fast.

Since merging into TKO, employees have faced reduced benefits, minimal pay raises, and increasing workloads despite WWE’s record-breaking profits. WWE is raking in massive revenue from ticket sales, streaming deals, and international partnerships, but staff aren’t seeing the rewards.

Many employees only received a 3% cost-of-living raise, with no merit-based increases—despite glowing performance reviews. Meanwhile, top executives secured multi-million-dollar bonuses tied to the merger. On top of that, TKO has focused on stock buybacks and dividends, rewarding investors while limiting benefits for the broader workforce.

The workload is piling up too. Some employees are clocking 50-60 hour weeks, especially as WrestleMania season ramps up. Others have been assigned UFC-related tasks, and there are concerns that TKO’s rumored expansion into professional boxing could push them even further—without additional pay.

Adding insult to injury, WWE employees—like the company’s wrestlers and UFC fighters—don’t have union representation. With perks disappearing and the grind getting tougher, many are now questioning their willingness to go the extra mile for a company that isn’t returning the favor.