UFC and WWE are now operating under one umbrella.
Unfortunately, the decision to bind them under the TKO Group Holdings, Inc. (TKO) banner resulted in “mass layoffs” according to Bloody Elbow, working from a report by PWInsider, with more than 100 employees getting released from multiple departments.
Endeavor, parent company of UFC, is no stranger to eliminating jobs.
The layoffs, which as of this writing did not affect talent, were primarily on the WWE side of the business. That said, WWE CEO Nick Khan, CCO Paul Levesque, and former CFO Frank A. Riddick II all received multimillion dollar bonuses.
UFC is not expected to cut any positions, despite what these “scumbags” wrote.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
For much more on the UFC-WWE merger click here.