WWE has gone through some major changes over the last few years and the company is reaching new heights when it comes to finances. Even though WWE is bringing in a lot of money right now it doesn’t seem that everyone who works for the company is seeing the benefits.
Wrestlenomics is reporting that even though WWE is posting record financial results following the TKO merger, employees are saying that they’re seeing cutbacks in benefits, and fewer promotions than expected.
Multiple WWE employees who spoke under the condition of anonymity described a decline in morale due to reduced benefits, limited pay increases, and heavier workloads due to the company integrating with UFC.
WWE employees also pointed out a disconnect between corporate messaging and what they experience on a daily basis. Multiple staff have said that they feel undervalued despite WWE emphasizing the value of its workforce during town hall meetings. A key reason for the TKO merger was to improve profitability which led to layoffs following the merger.
Previously WWE had a stock purchase program which allowed employees to buy stock at a 15% discount. The stock purchase program ended following the merger which means WWE employees lost out on the opportunity to invest in the company at a discount.
Another source of frustration is WWE’s removal of the “WWE Superstar” program which allowed employees to reward their peers with points which could be redeemed for cash bonuses, gift cards, or experiences.
WWE employees have said that the company’s financial success has not translated into meaningful pay increases. Employees with strong performance reviews were told that they wouldn’t get more than a cost-of-living adjustment due to upper management setting budget constraints. It’s being said that some expected expected significant raises based on past company practices.
Staff noted that they have respect for the company, but are frustrated by the changes due to the merger and feel obligated to speak up because they want to be compensated fairly. Some are said to be surprised by the direction the company has taken after being purchased by Endeavor as many employees worked with the company through periods where business wasn’t as strong.
One employee noted that staff are less willing to go above and morale has suffered.