WWE is reportedly set to resume pay raises and promotions for employees.
Company officials held an all-hands-on-deck meeting with employees today, according to PWInsider. The biggest news coming out of the meeting is that WWE has reinstated promotions and pay raises for employees after a freeze was placed earlier this year.
It was reported back in February that many employees, not wrestlers or talent, were upset and morale was low after a meeting was held to announce that the company would not be providing promotions, bonuses or pay raises moving forward. The meeting in February reportedly involved employees from production, the WWE offices, and other departments, but not talent or wrestlers. It was believed then that the decision was made out of financial prudence stemming from the Q4 and Full Year 2020 earnings report that was released on February 4. The new edict issued in February indicated that WWE employees would still be eligible to receive performance-based bonuses, depending on how they were doing with their job. It would prevent employees from being given promotions and official pay raises.
WWE is scheduled to report its Q2 2021 financial results on Thursday, July 29 after the close of the market, and this new report could be a positive sign.
It was indicated at today’s meeting that a large part of the WWE staff will be receiving pay raises in the coming days and weeks.
Stay tuned for updates.