-- WWE's financial outlook is an all-time high with the merger with UFC to form TKO, followed by two huge media rights deals with Netflix and NBCU for Raw and Smackdown, respectively. However, despite the financial success, it appears morale amongst WWE employees is plummeting according to a report by wrestlenomics.com.
-- The report notes that employees have stated that they are seeing cutbacks in benefits and fewer promotions than expected despite the increased company profits and some, speaking under the condition of anonymity, indicated that there has been a noticeable decline in morale that is directly tied to reduced benefits, limited pay increases and heavier workloads. Employees are also unhappy at the "growing disconnect" between the message corporate is telling them compared to their daily experiences working for the company as WWE management constantly stressed the value of its workplace at town hall sessions, but staff are feeling more and more undervalued. Other sources of unhappiness include:
- The company's stock purchase program was ended after the merger; under this program, WWE employees were allowed to purchase stock at a 15% discount. After the merger, the program was stopped but the stock price over 50% meaning employees lost out on a benefit to invest in the company at a discount.
- Abolishment of the "WWE Superstar" program which was a peer recognition initiative that allowed employees to internally reward each other with points that could later be redeemed for gift cards, bonuses or experiences.
- A long-standing perk for WWE employees where they would get complimentary tickets for friends and family to live events is no longer continued.
- Despite record financial numbers, WWE employees have reported a 3% increase in their salaries which would simply be a cost-of-living or inflation raise which they complain hardly keeps up with the rising costs living in Connecticut and New York where WWE's Headquarters are. Even employees who received strong performance reviews were told they would not get any raises over and above the cost-of-living adjustment due to "budget constraints" in place by senior management.
-- When employees have voiced these frustrations to lower and middle-level managers, they were told that these decisions have been passed on from higher up and from the executive level.
-- The report added that staff who spoke to Wrestlenomics stated that they continue to have respect for the company but felt obliged to comment because they want to be compensated fairly for the work that they have performed especially when many of these employees stuck by WWE through some turbulent times and are surprised at the direction WWE is taking since being acquired by Endeavor and the subsequent hot streak the company is in. To make matters worse, several top executives received substantial bonuses and investors have also been rewarded. One WWE employee noted to us that morale has suffered to the point that some staff are less willing to go above and beyond in ways they once did. Employees - like wrestlers - are not part of a union or covered under a collective bargaining agreement.
