WWE Employees to Receive Official Bonuses and Promotions Again

There is some good news for WWE employees. After putting all bonuses, promotions, and raises on hold earlier this year, WWE is to restart it all ahead of live shows.

Company officials held an all-hands-on-deck meeting with employees on Thursday. The biggest news from the meeting was reinstations of employees’ promotions, and raises, according to Mike Johnson at PWInsider.

Johnson also noted that there was an “implication” that employees are to receive pay raises in the upcoming days and weeks. It is important to note that this applies to the in-office and other staff and not the wrestlers.

Back in February, WWE held a meeting with production staff, the Stamford office staff, and staff from other departments, but not talent or wrestlers. The meeting was right after the Q4 and Full Year 2020 earnings report on February 4.

The meeting hinted that WWE employees are eligible for performance-based bonuses, based on their activity. But it prevented promotions and official pay raises.

The news left many a fair number of employees upset. Brandon Thurston of Wrestlenomics reported after the meeting that WWE employees received a stock award valued at $3,000. Yet, not everyone received the stock award, but a large number did.

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What could this decision mean for WWE?

The aforementioned decision is solely a business decision. However, it means good news in the long term as well. WWE has been letting go of its employees and performers to cut back its expenses.

WWE will file its Q2 2021 financial results on Thursday, July 29 after the close of the market. As live shows begin on Friday WWE is sure to garner more revenue from the ticket and merch sales in the future.

Ahead of the live shows, employees have returned to their offices in Stamford, Connecticut starting from July. The pay raises could mean that there would be no firings for some time.

WWE has released a considerable number of wrestlers this year including Braun Strowman, Mickie James, The IIconics, Andrade, and many more.

What is your assessment of this situation? Let us know in the comments below.

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