WWE Employee Morale Reportedly Declining Over Issues with TKO Group Over Minimum Pay Raises & Reduced Benefits

Wrestlenomics and PWInsider reported that their sources stated that the employee morale within WWE has been declining in recent months due to issues with TKO Group’s handling of the company.

Wrestlenomics’ Brandon Thurston reported that multiple current WWE employees spoken to stated that the morale within the company has been declining due to issues over reduced benefits, limited pay increases, and heavier workloads related to its merger with UFC.

Those spoken to reportedly also stated that there has been a growing disconnect between corporate messaging and their daily experiences in the company. This disconnect reportedly involves WWE management has been emphasizing the value of its workforce at town how meetings while staff have been feeling increasingly undervalued instead.

Thurston reported that contributing to the decline morale issues includes TKO ending the company’s stock purchase program which had previously allowed employees to purchase WWE shares at a 15% discount at a time when TKO’s stock price has climbed more than 50% over the past 18 months.

Another includes TKO ending the “WWE Superstar” program, which was stated to be a “a peer-recognition initiative that allowed employees to reward each other with points redeemable for cash bonuses, gift cards, or experiences.”

Thurston also reported that WWE eliminating their ticket comps system for employees and staff for live events has also been another source of frustration.

Those spoken to reportedly stated that WWE’s financial success for their current hot business period has not translated into meaningful pay increases. Multiple employees spoken to stated that received a 3% cost-of-living raise this year but hardly keeps pace with the rising living costs in Connecticut and New York for WWE’s headquarters region.

Thurston reported that employees with strong performance reviews were told that despite their positive ratings, they would not get more than a cost-of-living adjustment due to budge constraints set by upper management. This reportedly led to frustrations from employees who had expected significant raises or promotions based on past company practices. Those same employees reportedly were informed that the business was not in a position to offer increases because of the merger.

Thurston reported that those spoken to also brought up concerns raised to lower and middle-level managers that have been attributed to decisions made at the executive level.

Several employees spoken to reportedly stated that they have respect for the company but feel obligated to speak up because they want to be compensated fairly for the work they’ve performed. Those same employees reportedly also stated that they have been surprised at the direction WWE has taken since its purchase by Endeavor especially with the company now being on a hot streak.

Thurston reported that while pay increases for most employees have been modest, top executives in TKO and WWE have received substantial bonuses tied to the closing of the merger based on recent SEC filings and company’s most recent statement.

Besides top executives, Thurston also reported that investors have also been benefiting well ahead of much of WWE’s employee base as well. This reportedly has contributed to the growing decline in morale especially after TKO CEO Ari Emanuel had stated in a earnings call this past November that the merger had exceeded expectations.

Another source of frustrations reportedly revolves around a growing increase in workload for WWE employees with several of those spoken to stating that they are working 50-60 hours per week and particularly during the busy WrestleMania season. Other employees spoken to reportedly stated that they have been assigned additional UFC-related work since the merger and similar to XFL work in the past.

Several of those spoken to reportedly stated that employees are concerned that as TKO expands its portfolio of assets, WWE staff will be expected to take on even more work without additional compensation and dwindling benefits.

One WWE employee spoken to reportedly stated that morale within the company has suffered to the point that some staff are less willing to go above and beyond in ways they once did.

PWInsider reported that their sources confirmed Thurston’s report and provided some additional details.

In regards to the increased workload issues, it was reported that those spoken to have been upset over how much more work they have to shoulder at the same time many of their co-workers have been let go since the Endeavor takeover. Those spoken to reportedly confirmed that the bonuses for work were at a minimum and annual raises were “simply” a small 3% raise.

In regards to the elimination of the comp ticket system for employees for WWE live events, it was reported that the new VIP pre-sale password system for employees and talent has been a sore point for some time due to their requests are scrutinized far more under TKO than under the previous Vince McMahon ownership. It was reported that one story making the rounds is that all ticket requests by employees and talent have to be personally approved by WWE President Nick Khan’s office.

In regards to the growing disconnect between the company’s message and employee feelings, it was reported that many employees have been growing increasingly upset hearing how great the company is doing but at the same time, finding themselves with limited raises and bonuses alongside greater day-to-day responsibilities. The loss of the stock purchase program allowing employees to buy WWE stocks at a discount reportedly was stated to have also “poked holes” in employee morale.