WWE employees faced a significant setback today with the announcement of a new retirement policy that negatively affects long-serving staff. An internal memo revealed that WWE has done away with its old retirement plan, which provided one month of pay for each year worked. Instead, the company has adopted the TKO Group’s approach, offering just two weeks of retirement benefits per year of service.
According to Pwinsider, the updated policy also introduces salary caps tied to employee management levels, though the specific limits remain undisclosed. This adjustment has reportedly caused a major uproar at WWE headquarters, as it essentially cuts retirement benefits in half, representing a substantial loss for employees.
Since the creation of TKO Group Holdings, employees have seen a significant increase in their workload, often balancing duties across WWE, UFC, and PBR (Professional Bull Riders). The new reduction in retirement benefits adds further pressure and uncertainty about job security.
Long-term employees are particularly impacted by this change. Under the previous system, someone with 20 years at the company could expect nearly two years’ worth of retirement benefits, but the new policy reduces that to just 280 days.
This change sheds light on the tough realities faced by WWE office workers amid the company’s transition under TKO. Despite WWE celebrating record profits and successful events, the staff feels squeezed by these corporate shifts.
Fan Take: This news is crucial for WWE fans because it reveals the growing tension behind the scenes, highlighting that the company’s financial success may come at the expense of its employees. Such changes could influence morale and potentially the overall quality of WWE productions if experienced staff feel undervalued.
