WWE has not yet reported how many employees were laid off from the company earlier this month following the acquisition by Endeavor and the merger with the UFC into TKO Group Holdings, reports CTInsider.
As we previously reported here on eWn, more than 100 employees were laid off by WWE following the completion of the merger.
The report states that in many cases, company layoffs are reported to the state Department of Labor in compliance with the federal Worker Adjustment and Retraining Notification Act (WARN).
As of Thursday (September 28), the Department of Labor website’s list of WARN notices submitted in 2023 reportedly did not contain any sent by WWE.
In addition, the messages left earlier this week for a WWE spokesperson asking how many employees the company laid off since the completion of the merger were not returned.
WWE confirmed the exit of one company executive with a September 15 filing to the SEC. It pertained to former Chief Financial Officer Frank Riddick III who ended his stint on September 12, the day the merger officially came into effect. According to the filing, Frank’s last day as an employee was on September 29.
Moreover, the message left for the spokesperson for Stamford Mayor Caroline Simmons inquiring whether WWE has provided any update on the merger to city officials, including any layoffs, was not returned.
You can keep up with all your wrestling news right here on eWrestlingNews.com. Or, you can follow us over on our Twitter and Facebook pages.
WWE Layoffs Following Merger with UFC and Endeavor
In a recent development, WWE has undergone a series of layoffs following its acquisition by Endeavor and the subsequent merger with the UFC into TKO Group Holdings. While the exact number of employees affected has not been officially disclosed by the company, reports suggest that over 100 individuals have been let go.
The news of these layoffs was first reported by CTInsider, which highlights that WWE has not yet provided any information regarding the number of employees affected. This lack of transparency has raised concerns among industry experts and fans alike.
Typically, companies are required to report layoffs to the state Department of Labor in compliance with the federal Worker Adjustment and Retraining Notification Act (WARN). Surprisingly, as of September 28, the Department of Labor’s website did not list any WARN notices submitted by WWE for 2023.
Attempts to reach out to WWE for clarification on the number of employees laid off since the completion of the merger have been unsuccessful. Messages left for a WWE spokesperson have gone unanswered, leaving many in the dark about the extent of the layoffs.
However, one executive departure has been confirmed through a filing to the Securities and Exchange Commission (SEC). Former Chief Financial Officer Frank Riddick III ended his tenure on September 12, the same day the merger officially took effect. According to the filing, Riddick’s last day as an employee was September 29.
The lack of information regarding these layoffs extends beyond WWE’s internal communication. The spokesperson for Stamford Mayor Caroline Simmons has also not provided any updates on the merger or the layoffs to city officials.
As fans and industry insiders await further details, eWrestlingNews.com remains a reliable source for all wrestling news. The website offers comprehensive coverage of the latest developments in the wrestling world. Additionally, fans can stay updated by following eWrestlingNews on Twitter and Facebook.
The recent layoffs at WWE following its merger with the UFC and acquisition by Endeavor have raised concerns about the company’s transparency and the well-being of its employees. As the wrestling community awaits more information, it is crucial for WWE to address these concerns and provide clarity on the situation.