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WWE employees received compensation instead of raises - Reports

Vince McMahon
Vince McMahon
OFFICIAL
Modified 19 Feb 2021
Rumors
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WWE employees may not have received raises this year, but they have received another form of compensation.

According to a report by Brandon Thurston of Wrestlenomics, WWE employees are being given stock awards valued at $3000 instead of raises this year.

Over the last few days, there have been multiple reports of unhappiness behind the scenes in WWE as employees were not given raises, promotions, or bonuses this year. The decision to put the raises and promotions on hold came after the 4th quarter earnings were marginally off from what had been expected. The decision would still make employees eligible for bonuses based on performance but restrict official raises and promotions.

However, the latest report suggests that WWE employees are given stock units worth $3000 instead. The report further stated that not every employee was receiving stock units, but the majority were. The units are set to vest next month. This came after WWE employees discovered that promotions and raises had been put on hold.

"WWE employees have been given a stock award valued at $3,000, according multiple sources in the company. Not every employee received the award but a large number. The stock units vest next month. Employees learned on Friday that salary raises and promotions were put on hold."

WWE has been going through cost-cutting measures since the pandemic

Ever since the start of the COVID-19 pandemic, WWE has been going through several cost-cutting measures. When the pandemic first hit in 2020, WWE went through a company-wide budget cut, which saw many employees and Superstars being released.

On April 15, WWE announced the release of a number of Superstars, including some of the most popular wrestlers on the roster. Rusev, Gallows and Anderson, Heath Slater, Zack Ryder, Kurt Angle, and many others were suddenly released.

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On top of this, many employees were furloughed, and while some were called back, WWE released a large number of them as well. NXT stars called up to the main rosters were also reportedly not given main roster contracts at that time as well.

Published 19 Feb 2021, 15:39 IST
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