Several WWE incentive programs have been dialed back for employees since its merger with the UFC, according to a report.
Wrestlenomics has a story with multiple employees at WWE speaking with the outlet about changes since the merger to form TKO was finalized in September 2023.
The areas affected include the staff’s stock purchase program, which previously allowed staff at WWE to purchase company stock at a 15% discount. This comes when TKO’s has recently hit $160 per share and increased nearly forty percent over the past six months.
Brandon Thurston had previously shared an email distributed internally by the human resources department to staff members regarding the elimination of the program
Due to TKO’s corporate structure, we are unable to launch a new Employee Stock Purchase Plan that offers the same type of individual tax benefits that were previously offered by the WWE plan. However, TKO shares continue to be granted to eligible employees as part of our Long-Term Incentive Plan.
Wrestlenomics’ latest report includes the removal of a “WWE Superstar” program, which was a peer initiative where staff could reward one another through a points-based system that could be transferred for “cash bonuses, gift cards, and or experiences”.
TKO has also removed the ability for staff to secure tickets to live events as WWE is going through a major live event boom period and an escalation of pricing.
The final point in the report is that members of the staff speaking to the outlet conveyed dissatisfaction over meaningful pay increases since the merger was completed. It cites pay increases limited to a three percent cost of living raise, “which they argue hardly keeps pace with the rising costs of living in Connecticut and New York” where WWE’s headquarters is based. It is compounded by workloads increasing since the merger and noting the increase around WrestleMania season, and more UFC-related tasks since the merge.
Wrestlenomic reached out to WWE for comment but they did not respond.
TKO will release its fourth-quarter and year-end financial results this Thursday.
