Even before Endeavor’s acquisition of WWE was finalized this morning (Sept. 12) with new WWE & UFC parent company TKO Holdings Group’s stock being offered on the New York Stock Exchange, there was said to be worry among WWE employees. Layoffs and other cost-cutting measures are common after corporate transactions like the one Ari Emanuel & Vince McMahon just completed, which leads to a lot of anxiety among the rank & file whose jobs might suddenly be deemed redundant.
Leadership tries to quell their concerns and keep employees motivated during the transition period, without promising that no jobs will be lost in the process. That’s what WWE President Nick Khan was likely attempting to do with this memo to employees, which was obtained and shared by PWInsider:
This morning, we announced that WWE and the UFC have officially come together to form TKO Group Holdings, creating a new premium sports and entertainment company. TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO.”
A big thank you to all of you for the hard work and commitment that helped us achieve this milestone. As we now begin this transition, we will be in touch with more details.
In the interim, we will be communicating with each of you regarding new policies and procedures. HR will also be available to answer any and all questions you may have.
We know when companies undergo change it can feel like uncertain times. The special culture that WWE has cultivated over its long history is what has allowed our business to flourish and we will be preserving that as WWE and UFC both continue to grow together as part of TKO.
As always, we’ll continue to focus on the work throughout this transition and make sure to communicate with all of you throughout the process.
It’s a nice enough sentiment. But as someone who’s been on the receiving end of at least a couple similar memos over the course of my business life, I imagine a lot of WWE employees are still pretty worried about those future communications Khan mentions.