Endeavour Group Holdings, the parent company of the UFC, is in the midst of acquiring the WWE, which has been looking into a possible sale for the previous few months.
WWE made a formal announcement in April 2023 that they intended to sell 52% of their holdings to UFC’s parent firm Endeavour. Months of discussions had gone into the purchase, and the paperwork had been submitted earlier this month. As was previously reported, the paperwork has been approved by the Board of Directors, and it is expected that WWE-UFC will unite under Endeavour in the coming months.
According to a report, the two businesses would relocate to the newly formed TKO Holdings Group. Although the investors would undoubtedly profit marginally from the announcement, the staff are worried about losing their jobs.
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Employees Fear Losing Job After Complete Take Over By UFC’s Parent Company
There is reportedly a feeling of “gloom and doom” within WWE, which has left employees in fear. The employees worry that they will most likely lose their jobs if they aren’t involved in the production or with the WWE superstars because the corporation plans to eliminate any unneeded divisions as a result of the merger.
WWE Employees Fear Losing Job After Complete Take Over By UFC’s Parent Company
Due to Endeavor’s existing departments, they may decide to entirely axe them and replace them with their own personnel. The majority of WWE employees are reportedly already looking for a new job because they are aware of the situation. Although the precise number of employees that would be let go in the coming weeks is unknown, Endeavour CEO Ari Emanuel has already suggested the cost cut to cut down on redundancy.
The anticipated layoff has generated a lot of conversation among the staff at the WWE HQ in Stamford, Connecticut. If the cost reductions will be extended to WWE stars on the road as well as staff, PWI is unsure.
The UFC and WWE won’t require separate travel agencies, accounting divisions, etc., as one firm employee noted. Due to their fear of losing their jobs, many employees are secretly hunting for their next position. Though it’s unclear how many employees would be let go, the possibility has generated a lot of discussion among Stamford employees who are aware that the McMahon family’s ownership may expire in the next few weeks.
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