• Loading stock data...
Tuesday, April 16, 2024
  • -
  • -
  • -
  • -

Layoffs Begin At WWE Days After Merger With UFC Closes

  • Sources reveal over 100 positions could be eliminated as part of restructuring.
  • Merged company seeks $50 million to $100 million in savings.
WWE's stock has surged 58% year to date.
Credit: Joe Camporeale-USA TODAY Sports

World Wrestling Entertainment has eliminated dozens of positions following the creation of TKO Holdings, which brings together WWE and UFC.

Pink slips started flying at WWE headquarters in Stamford, Conn., on Friday following the official creation of the new publicly traded company.

Unfortunately, the layoffs at WWE could number over 100 positions, sources said. Before the merger, WWE had nearly 1,000 employees. 

The job cuts are part of a drive to find $50 million to $100 million in savings from the union of the two live entertainment giants. Most of the jobs eliminated were duplicate positions between the two companies and parent Endeavor Group Holdings, sources said.

“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,” wrote WWE president Nick Khan in an internal memo Thursday night. “This effort includes workforce reductions, which will take place tomorrow.”

Endeavor owns 51% of the combined company. The move wasn’t unexpected, and a source said Endeavor was planning to eliminate redundancies created by the merger early in the agency’s pursuit of WWE late last year. 

“Planning is underway to begin maximizing revenue and cost synergies immediately upon closing and I’m bullish on the TKO outlook and the progress of the WWE media renewal discussions,”  Endeavor CEO Ari Emanuel said in an earnings call last month.  

Among those leaving WWE, said sources, are Jamie Horowitz, executive vice president of development and digital, and Horowitz’s team in Los Angeles.

Horowitz is expected to work closely with Omaha Productions, which he helped co-found with Peyton Manning in December 2020 before joining WWE.

Omaha won a Sports Emmy for its popular “ManningCast” with Peyton and Eli Manning. Earlier this year, Peter Chernin’s North Road invested $10 million into Omaha, valuing the company at $400 million.

During previous management stops at Fox Sports and ESPN, Horowitz popularized “Embrace Debate” and led the creation of Stephen A. Smith’s “First Take” and Skip Bayless’ “Undisputed.”

Sources said Horowitz left WWE on good terms and remains close with longtime friend Nick Khan, the former CAA super-agent turned president of WWE.

WWE declined to comment. An Endeavor spokesperson referred FOS’ inquiries to WWE. 

Copy Link
Link Copied
Link Copied

What to Read

Wrestler Says He Was Offered $300K to Throw Match, Calls Judges ‘Corrupt’

Frank Chamizo said the offer was made the morning of the match.

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.

Endeavor’s Move to Go Private Will Form Media Company Targeting Sports

Silver Lake is set to provide $250 million in seed equity in the separate venture.
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History


Featured Today

Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.
Mar 19, 2021; West Lafayette, Indiana, USA; Oral Roberts Golden Eagles forward Kevin Obanor (0) and guard Carlos Jurgens (11) and guard Max Abmas (3) and forward Francis Lacis (22) celebrate after an overtime victory over the Ohio State Buckeyes in the first round of the 2021 NCAA Tournament at Mackey Arena.
March 30, 2024

Cinderella Runs Are Great in the Moment. Then Things Can Get Messy

Sustaining success can arguably be more challenging than beating Goliath.
Mar 10, 2024; Las Vegas, NV, USA; Southern California Trojans guard JuJu Watkins (12) cuts the net after the Pac-12 Tournament women's championship game against the Stanford Cardinal at MGM Grand Garden Arena.
March 28, 2024

The Pac-12 Built a Women’s Basketball Powerhouse. Then Realignment Hit

The breakup is happening at the worst time for the sport.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

The WNBA Has Huge Ambitions as Caitlin Clark Finally Comes Aboard

Commissioner Cathy Engelbert is aware of the moment in front of the league.
April 15, 2024

NBA’s Two Tourneys Drive Record Attendance

Total attendance for the 2023–24 season, which ended Sunday, was 22,538,518.
April 15, 2024

Caitlin Clark’s WNBA Chapter Officially Opens as No. 1 Overall Pick

Clark’s professional career is starting as a member of the Indiana Fever.

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
April 15, 2024

Wrexham, Leverkusen Write Hollywood Stories

The guaranteed payoff for Wrexham is modest but still significant.
April 15, 2024

Out of Her ‘Comfort Zone’: SNL Starts Caitlin Clark’s Whirlwind Draft Weekend

‘The Today Show,’ ESPN, and an Empire State Building photo opp.
April 14, 2024

Angel Reese and Caitlin Clark Should Make a WNBA Roster. Their Teammates Didn’t

The draft could mark a significant financial turning point for the WNBA.
April 14, 2024

NFL’s Expanded Helmet Options Come With a Perk: More Merch

Teams can now add a third helmet design to their overall look.