WWE Employees Reportedly Informed Of Morale-Draining Change To TKO Severance Policy

TKO has reportedly informed WWE employees about a new severance policy, which has not been well received by the company's staff.

"PWInsider" has reported that WWE has instituted a new severance policy whereby staff will be given two weeks of severance pay as opposed to the earlier policy that offered more. In the earlier policy, WWE employees received severance pay of one month for every year they served in the company, a policy implemented during the Vince McMahon era. WWE staff were notified about the new policy through a memo, with it being put in place immediately.

The new policy, "PWInsider" reports, will also have a cap determined by the management level. The report revealed that WWE staff are disappointed with the new policy as they have been entrusted with more tasks across TKO's various offerings, i.e., WWE, PBR, and UFC.

TKO has made several changes to WWE ever since they bought the promotion, despite WWE bringing in huge revenue through shows as well as various deals. WWE released several backroom staff as well as talent last year, while they also reduced house shows to help strengthen the bottom line. The firing spree continued this year as the promotion let go of between 10 and 12 backroom staff in May, days after having the most successful WrestleMania in history. 

WWE and TKO have focused on growing revenue, even going so far as to change the venue for WrestleMania 42, believing they wouldn't generate revenue comparable to this year's show if it were held in New Orleans, the originally planned host city.