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Mass layoffs are nothing new in the world of the WWE. It became so common that for over a decade, yearly April releases have been dubbed "Spring Cleaning" by critics of the promotion. Back in September, following the company's merger with UFC to form TKO Holdings, over 100 employees lost their jobs.
These original layoffs were an effort to clear out employees from both sides of the merger who essentially provided similar services. A notable name in that group was Executive Vice President of Development and Digital Jamie Horowitz.
Brandon Thurston of Wrestlenomics has now revealed that another undisclosed number of corporate employees have been laid off. Outside of the office, one major name has been added to the list. NXT backstage interviewer McKenzie Mitchell revealed that she'd been let go today.
These layoffs come following a year of highs, with the promotion set to make well over a billion dollars by year's end. Q1 and Q2 revenue ended up at over $700 million, while TKO Group Holdings as a whole earned a Q3 revenue of $499 million.
WWE's original statement regarding September layoffs
WWE President Nick Khan released a company-wide email back in September, chalking the layoff of over 100 employees up to the transition into TKO Group Holdings:
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. Those whose roles have been impacted will be notified by our Human Resources Team, who will share the details of their severance package. We are asking that everyone work remotely, Friday September 15th, so we can insure all conversations are handled privately and respectfully. We'll send out a company-wide email once all of tomorrow's conversations have happened. Our company is home to the most talented, creative, and hard-working employees in the world. WWE is a special place, which makes moments like this difficult. Just know that we have nothing but gratitude and admiration for everyone we have had the privilege to work alongside."
Regarding today's releases, we can only assume the reasoning behind them is in line with those from September unless further details are revealed.
