Nick Khan has told WWE employees to work remotely as cost-cutting begins.
On September 12th it was announced that the merger between WWE and UFC was now officially complete, and the TKO Holdings group was born. For months there has been speculation about how the deal could impact WWE, with huge cuts for staff and talent expected across the board.
Those cuts look set to begin on September 15th, according to an internal memo sent out by Nick Khan to employees, and shared via PWInsider.
Hi All,
As part of WWE’s transition into the newly formed TKO Group Holdings, we are evaluating our existing operations and systems to identify potential synergies across the business. This effort includes workforce reductions, which will take place tomorrow.
Those whose roles have been impacted will be notified by our Human Resources Team, who will share the details of their severance package. We are asking that everyone work remotely, Friday September 15th, so we can insure all conversations are handled privately and respectfully. We’ll send out a company-wide email once all of tomorrow’s conversations have happened.
Our company is home to the most talented, creative, and hard-working employees in the world. WWE is a special place, which makes moments like this difficult. Just know that we have nothing but gratitude and admiration for everyone we have had the privilege to work alongside.
Thank you for all your contributions and dedication.
Nick Khan
Nick Khan Previously Confirmed “Aggressive” Cost Cutting
The cuts will come as no surprise to fans with Nick Khan confirming back in April that WWE was planning to be “pretty aggressive” with its cost-cutting measures. He explained that the company is hoping to make savings in the region of $50 million.
It’s also been reported that talent cuts are on the way, although there’s no word on when these will begin.