WWE is reportedly set to make further cuts to staffing and is likely to save close to $100 million by doing so.
In the latest edition of the Wrestling Observer Newsletter, Dave Meltzer has shed light on WWE’s upcoming plans to make significant staff cuts, with an estimated goal of saving from $50 million up to $100 million for the year 2024. The targeted staff reportedly belong to various departments including IT, marketing, finance, human resources, and legal.
These cuts are aimed at eliminating overlapping personnel in UFC and WWE following their merger, as both entities can now utilise a unified workforce to fulfil these roles.
The rationale behind these anticipated staff reductions stems from the desire to streamline operations and eliminate redundancies post-merger. With the integration of UFC and WWE into a cohesive entity, there is a concerted effort to optimise staffing resources and enhance operational efficiency.
This strategic move is poised to yield substantial cost savings, aligning with the company’s financial objectives moving forward. Meltzer wrote:
The company noted that there will be a great decrease in expenses in eliminating jobs in IT, marketing, finance, human resources and legal when it comes to overlapping personnel in UFC and WWE who can do those jobs for both companies. They expect to save $50 million to $100 million, and the figure was said to be expected to be the high end of this range, with 75 percent of the savings being on the books for 2024.
Has WWE Laid Off Other Staff Since The UFC Merger?
WWE laid off over 100 staff on September 15th following the merger with Endeavor. These earlier layoffs were also in aid of cost-cutting. The company also made cuts to their talent roster following the merger with a mass exodus of talent happening on September 21st with notable names such as former World Heavyweight Champion Dolph Ziggler, Shelton Benjamin, and Mustafa Ali being released.
In more recent WWE news, a new sports partnership has been announced.