When a company is looking to sell, it is normal for it to lay off some of its employees in order to reduce expenses and make the company as profitable as possible. WWE is no exception, especially now that Vince McMahon has returned.
Following McMahon’s return to the company as Executive Chairman of the WWE Board of Directors, several changes occurred, including Stephanie McMahon leaving the company and Nick Khan taking over as CEO. For the time being, Triple H is in charge of creative, though this could change at any time.
McMahon had stated that he was returning to help with the sale of the company and the TV rights negotiations.
WWE let go of a few employees last month, including Adam Hopkins, Vice President of Communications.
In the most recent issue of the Wrestling Observer Newsletter, Dave Meltzer reported that many more cuts had been made at Titan Towers in preparation for a sale.
“There have been a lot more cuts on the corporate side in the past few weeks in different departments since Vince McMahon’s return,” Meltzer wrote. The assumption is that these cuts are being made to reduce costs and prepare the company for sale.”
Matthew Drew, WWE’s Senior Vice President of International, was let go after joining the company in June 2021 after a successful stint at DAZN and was said to be a Nick Khan hire. Because of Khan’s position in the company, this is a significant firing.
As previously reported, during Thursday’s WWE earnings call, Nick Khan stated that McMahon is willing to leave WWE if a buyer isn’t interested in keeping him.