WWE employees were hit with a major blow today as the company officially rolled out a new severance policyand its not good news for long-time staffers.
According to an internal memo sent this afternoon, WWE has scrapped its previous severance package, which offered one month of severance pay for every year of service. Moving forward, the company will now follow TKO Groups structure, offering just two weeks of severance pay per year of employment.
PWInsider reports that there are also pay caps tied to an employees management level, though exact figures were not made available. Still, insiders say the move has sent shockwaves through WWEs corporate offices.
Since Vince McMahon sold WWE to Endeavor and merged it with UFC under the TKO umbrella, many employees have found themselves managing triple the workloadhandling tasks across WWE, UFC, and even PBR (Professional Bull Riders). The updated severance terms only add more pressure to an already strained workforce.
The change is effective immediately and leaves long-tenured staff with far less security should layoffs continue.
This latest move by WWE is a brutal reminder that the business side of wrestling doesnt pull punches. While the glitz and glamour play out on TV, the real drama might be happening behind the sceneswhere loyalty now comes with a smaller paycheck on the way out.
Was WWE justified in slashing severance packages, or is this just another sign of corporate priorities shifting away from its people? Please share your thoughts and feedback in the comment section below.
