UPDATED: More on WWE Freezing Promotions & Raises For Employees

UPDATE: A new report has additional details on WWE telling its employees today that there will not be promotions and raises going forward for some time. PWInsider has additionally reported that the company informed employees in different departments that there is a freeze on promotions and raises, with the belief being that it was done as a financial choice stemming from the latest earnings release. As noted earlier, that report said that the company’s revenue decreased in the fourth quarter of 2020.

The site says that based on what they have been told, performance bonuses will still be on the table. There’s no word on how long it will last, but there was a negative reaction to the news. The site also notes that there was not one company-wide meeting, but individual meetings held by supervisors and managers of different departments informing their staff about the news.

ORIGINAL: WWE reportedly held a meeting with its employees that left those involved quite upset, according to a new report. Fightful Select reports that the meeting took place within the company today with people on the corporate side, and many were told that they would not be getting promotions, raises, or bonuses.

According to the report, those involved in the meeting were upset and left with low morale. The meeting did not involve the company’s talent/performers. WWE’s Q4 financial report saw decreased revenue for the quarter, but record results for 2020 on the whole.