WWE fired four top executives on Friday morning following the launch of TKO Group Holdings earlier this week. Many other cuts have also been made.
The UFC and WWE merger became official this past Tuesday with the official launch of TKO, and parent company Endeavor Group is now looking to make several cuts.
According to a report from the Wrestling Observer Newsletter, Endeavor CEO Ari Emanuel has stated that the company is looking to cut $50 million to $100 million in costs for WWE to increase profitability.
When Endeavor acquired the UFC in 2016, similar cuts were made and there were “major layoffs” of top people in the company. Those cuts were limited to the office and didn’t apply to talent as much. However, a harder limit was imposed on talent expenses.
If the UFC case is any indication, WWE talent pay will increase at a lower level than revenue and profits.
Endeavor didn’t interfere much with how the actual product was managed following the acquisition of the UFC, and this will likely be the case with WWE.
In other words, the WWE product will likely remain unchanged for the most part.
It is rumored that major cuts await the WWE main roster and NXT.
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WWE Fires Top Executives Following TKO Group Holdings Launch
In a surprising turn of events, WWE has fired four top executives on Friday morning, shortly after the official launch of TKO Group Holdings earlier this week. This move comes as part of parent company Endeavor Group’s efforts to make significant cuts following the UFC and WWE merger.
According to reports from the Wrestling Observer Newsletter, Endeavor CEO Ari Emanuel has expressed the company’s intention to reduce costs by $50 million to $100 million in order to increase profitability for WWE. This strategy is reminiscent of the approach taken when Endeavor acquired the UFC in 2016, which resulted in major layoffs and stricter limits on talent expenses.
While these cuts primarily affected office personnel in the past, it is anticipated that this time around, major cuts will also impact the WWE main roster and NXT. This news has left fans and industry insiders speculating about the potential changes that may occur within the organization.
Despite these significant developments, it is expected that Endeavor will not interfere extensively with the management of the WWE product. Similar to their approach with the UFC, Endeavor is likely to allow the current creative team to continue their work, ensuring that the WWE product remains largely unchanged.
For fans concerned about the future of their favorite wrestling promotion, it is important to note that while cost-cutting measures may be implemented, it is unlikely that there will be any drastic alterations to the overall WWE experience. The company will likely focus on streamlining operations and improving financial performance without compromising the core elements that have made WWE a global entertainment phenomenon.
As these changes unfold, it is crucial for wrestling enthusiasts to stay informed. Websites like eWrestlingNews.com provide up-to-date coverage of all wrestling news, including developments related to WWE and other promotions. Additionally, following their social media accounts on Twitter and Facebook can ensure that fans never miss out on the latest updates and insights.
While the firing of top executives and the anticipation of major cuts may cause some uncertainty, it is essential to remember that the world of professional wrestling is constantly evolving. As WWE navigates this new chapter in its history, fans can expect the company to adapt and continue delivering the thrilling entertainment they have come to love.