WWE employees were notified this afternoon via an internal memo that a new severance policy has been implemented, effective immediately.
The previous policy — which granted one month of severance pay for each year of service — is no longer in effect. Moving forward, the company will follow the TKO Group’s severance structure, which provides two weeks of severance pay per year of employment.
Pwinsider is reporting that there are additional caps tied to an employee’s management level, though specific details have not been disclosed.
Understandably, the news has dealt a significant blow to employee morale, particularly as many staff members are now juggling responsibilities across WWE, UFC, and PBR — far beyond the single-brand focus they had prior to Vince McMahon’s sale of the company.
