Last month, Endeavor Group Holdings Inc and WWE signed a definitive agreement to form TKO Group Holdings Inc by merging UFC and WWE. Typically, mass layoffs are expected when two companies merged.
Recently, the COO of Endeavor Group Holdings Mark Shapiro stated that they planning to cost reductions. WWE CEO Nick Khan noted in an interview that the company expects to save $50 million by laying off employees. However, at the time Khan said that the management has no intention of releasing on-screen stars.
Earlier this month, WWE reported $297.6 million in revenue for the first quarter (January to March). However, it was a decrease of 11% from the same quarter of last year.
WrestleVotes told GiveMeSport that WWE expects to release several superstars before July 1st.
“I don’t know names at all, but I know a source that has said to expect a minor batch of releases prior to July 1, I think that’s just business. Hopefully I’m wrong on that one, but I would expect prior to the second half of this year, a few cuts just because of the circumstances that the company finds themselves in right now.”
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