The merger of the UFC and WWE has resulted in a significant staff restructuring.
Officially established as TKO Group Holdings, Inc. on September 12, 2023, following the merger of Endeavor (UFC's parent company) and WWE, the newly formed organization experienced a 2.6 percent increase in share prices on its first day of trading on the New York Stock Exchange.
However, amid the positive developments, more than 100 employees have been let go due to extensive cost-cutting measures undertaken by WWE. Prominent figures, including WWE Hall of Famer Dana Warrior and Catherine Newman, the Executive Vice President and Head of Marketing, were among those affected. In response to these changes, Ari Emanuel, the CEO of Endeavor, issued the following statement.
“I think we had a range of $50 to 100 (million initially), with regard to back office and costs. We’re on our way to kind of doing that. We did that with the UFC, we are on our way here (with WWE). There’s also a lot of savings as it relates to the production side because of their production facility, and our production facility.”
In light of Saudi Arabia's Public Investment Fund (PIF) recently injecting over $100 million into the PFL through SRJ Sports Investments, TKO Group Holdings is compelled to take measures to maintain its competitiveness. With the expanding landscape of MMA organizations, there is a growing incentive to engage and satisfy the fanbase.