UFC and WWE planned to merge earlier this year, creating a new corporation estimated to be worth $21.4 billion. Following the acquisition of WWE by UFC’s parent company, Endeavor, the two companies have formed a live sports and entertainment powerhouse valued at over $21 billion.
Lately, Endeavor CEO Ari Emanuel has proposed cost-cutting and cooperation as part of the deal, which may lead to staff reductions in the near future. Nick Khan, the president of WWE, has also confirmed that 5 WWE staff members will be laid off after the TKO Group Holdings merger to improve efficiency.
Nick Khan sends important layoff email to all WWE employees
Following the merging of WWE and UFC, their goal is to reduce expenses by streamlining operations to become the world’s premier sports entertainment entity and generate substantial annual revenue. The President of WWE has stated that while the decision is firm, specific cost-cutting measures will be put in place to build the most formidable hybrid team possible.
The WWE’s CEO, Nick Khan, has now also addressed the issue publicly. According to PWInsider, Nick contacted his employees and instructed them to work from home to prevent the disclosure of sensitive information. The company’s roster is in limbo during this transition period.
“As part of WWE’s transition into the newly formed TKO Group Holdings, we are evaluating our existing operations and systems to identify potential synergies across the business. This effort includes workforce reductions, which will take place tomorrow. ” Nick said.
Details on UFC-WWE merger
Vince returned to his role as WWE executive chairman in June 2022, replacing Stephanie, who had been serving in that role. In April 2023, WWE merged with Zuffa to create TKO Group Holdings, under Endeavor’s ownership. Following the completion of the merger between UFC and WWE, Endeavor acquired 51% of TKO.
Vince McMahon currently serves as executive chairman, while Dana White leads the Ultimate Fighting Championship, and Ari Emanuel runs TKO operating independently while also exploring great opportunities to collaborate. The McMahon family, which has held a majority stake in WWE since its inception in 1953, has sold its shares in the company as part of the merger.
Which matchups between wrestlers and fighters would you like to see during the WWE and UFC collaboration event? Share your thoughts with us in the comment section.
