Last Friday, WWE made employee cuts due to its merger with the UFC after Endeavor acquired WWE. The companies are now under TKO Holdings Group.
The cuts were expected as there were duplicate departments, and it was more cost-efficient to merge them.
Jamie Horowitz, the Executive Vice President of Development and Digital, was let go, which was surprising since he had only joined the company in June 2021. WWE President Nick Khan brought him in.
Dave Meltzer noted on Wrestling Observer Radio that Horowitz wasn’t well-liked in WWE and was a negative hire when he first joined.
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Last Friday, WWE announced employee cuts as a result of its merger with the UFC after Endeavor acquired WWE. The two companies are now operating under TKO Holdings Group. This move was expected as there were duplicate departments within the organizations, and merging them was seen as a more cost-efficient strategy.
One notable employee who was let go in this round of cuts was Jamie Horowitz, the Executive Vice President of Development and Digital. Horowitz’s departure came as a surprise to many, considering he had only joined the company in June 2021. WWE President Nick Khan had brought him in, but it seems that Horowitz did not leave a positive impression during his short tenure.
According to Dave Meltzer, a well-known wrestling journalist and host of Wrestling Observer Radio, Horowitz was not well-liked within WWE and was considered a negative hire from the beginning. While the specific reasons for his unpopularity are not mentioned, it is clear that his departure was not met with much regret or surprise from those within the company.
Employee cuts are often a challenging and unfortunate aspect of mergers and acquisitions. When two companies come together, there is often overlap in various departments and roles. In order to streamline operations and reduce costs, it becomes necessary to eliminate duplicate positions. This can result in job losses for some employees, as was the case with WWE’s recent cuts.
However, it is important to note that mergers and acquisitions also present opportunities for growth and development. By combining resources and expertise, companies can strengthen their position in the market and create new avenues for success. While employee cuts are undoubtedly difficult, they are often a necessary step towards achieving long-term sustainability and profitability.
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In conclusion, WWE’s recent employee cuts were a result of its merger with the UFC and the subsequent formation of TKO Holdings Group. These cuts were expected due to duplicate departments and the need for cost-efficiency. Jamie Horowitz, the Executive Vice President of Development and Digital, was among those let go, despite having joined the company recently. The decision to release Horowitz was not surprising, as he was reportedly not well-liked within WWE. While employee cuts are unfortunate, they are often a necessary step in the process of merging companies and streamlining operations. Wrestling fans can stay informed about the latest news through eWrestlingNews.com and its social media channels.