A new report claims that WWE staff morale is at a new low as the company has decided to take away many perks of the job following the company’s merger under TKO.
WWE’s product has never been hotter than it is right now. After founder and former CEO Vince McMahon lost his grasp on the company, the leadership combo of Nick Khan and Paul “Triple H” Levesque has ushered in a new and very profitable era for the company.
The roster seems to be happy with how they are used and the transparency with management. And fans are finally getting the sort of product they have been clamoring for over the last decade. It has led to record views and profits for WWE over the last year.
However, while the company is at a new peak period, it seems that life for WWE office staff is not as good as it was before they merged with the UFC under the TKO banner.
WWE staff losing major perks of the job despite record profits
A fascinating new report from Wrestlenomics this week a growing frustration with WWE’s office regarding how things have changed since the company’s recent merger. Following the merger, the company has consolidated its staff and expenditures. Along with many job cuts, quite a few perks that staff enjoyed for years are now gone.
Previously, staff was able to purchase stock in the company at a 15% discount. That is gone. They used to have a “WWE Superstar” program that allowed employees to reward each other with points redeemable for cash bonuses, gift cards, or experiences. That has been slashed. Plus, the long-time perk of complimentary tickets to events has also been taken away.
Several members of WWE staff spoke to Wrestlenomics anonymously. And they revealed that despite posting over $1 billion in profits this year, the usual bonuses given in less profitable years have been limited to a 3% cost of living pay bump recently. That is surely a positive. But with the cost of living skyrocketing in the area around WWE headquarters (New York and Connecticut) it is not as beneficial as pay increases in the past.
Adding to the frustration of the modest pay increases as workloads grow for many is the fact the TKO rewarded some executives with huge bonuses after the merger. President Nick Khan received a $15 million cash bonus following the merger. While WWE Chief Content Officer Paul Levesque also scored a $5 million bonus.
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