A major policy change by WWE and TKO Group Holdings has dealt a significant blow to backstage morale, according to PWInsider. The Stamford-based promotion has altered one of its policies by adopting TKO's standard.
Previously, employees used to receive a month of severance pay for every year they had worked for the company. That's no longer the case under the new policy.
Now, employees will receive two weeks' worth of severance pay for every year they have been with the promotion. Here's an excerpt from PWInsider:
"Going forward, the old WWE severance policy of employees receiving a month for every year they worked for the company is no more. The company will now honor a TKO policy of two weeks worth of severance pay for every year an employee worked for the company."The decision didn't sit well at all backstage, and has resulted in a massive blow to the morale of WWE's employees. The reason? Previously, under the Vince McMahon regime, employees were tasked with responsibilities within WWE. Now, under the Triple H regime, employees will be required to take on responsibilities among World Wrestling Entertainment, UFC, and Professional Bull Riders (PBR).
"Needless to say (and quite understandably), this was a major blow to company morale among employees, especially since so many are now tasked with responsibilities among WWE, UFC and PBR, as opposed to just on WWE as they had been prior to Vince McMahon selling the company." (H/T PWInsider)Fan backlash to WWE deciding to alter its severance policy
The news broke on wrestling X/Twitter earlier today, and as expected, fans were not happy at all with the same. Thousands of comments were shared on the social media site, with most of the users blasting TKO for implementing its policy on employees of the Stamford-based promotion.
TKO Group Holdings officially took over WWE two years ago. Over the past two years, the organization has made a bunch of questionable corporate decisions that have left a bad taste in fans' mouths.
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Edited by Rahul Madurawe