WWE and UFC’s Merger Leads to Tough Decisions, 40-50 Employees Let Go
The world of professional wrestling is undergoing a seismic shift as WWE and UFC have officially completed their merger under the banner of TKO Holdings Group. With this new chapter comes a slew of tough decisions, including significant workforce reductions aimed at saving $50 million to $100 million.
Jamie Horowitz, the former Executive Vice President of Development and Digital for WWE, is among the casualties, having been released from the company. Catherine Newman, who held the position of Head of Marketing, also saw her tenure at WWE end. Amanda Bloom, too, joined the list of those let go as the podcasting and WWE Network departments took significant hits.
Reports circulating within the company suggest that WWE is parting ways with approximately 40 to 50 employees in this wave of layoffs, although the final tally may be higher once the dust settles.
The process has been marked by a sense of uncertainty, with WWE CEO Nick Khan sending out a mass email instructing employees to work from home. This move was made to allow the HR department to carry out the releases in a private and confidential setting. The exact number of layoffs will only be known when everyone returns to the office and a headcount is conducted.
This day carries a heavy weight for WWE and its workforce, as many employees remain anxious about the prospect of receiving a Zoom call informing them of their job loss. The hope now is that those affected can swiftly find new opportunities elsewhere.
As WWE navigates this challenging transition period post-merger, the wrestling world watches closely to see how it will impact the industry and the careers of those involved.
