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World Wrestling Entertainment informed employees and staffers in different departments today that promotions and raises would not be going forward, PWInsider.com has confirmed with multiple sources.
The belief among those we have spoken to is that the company made those decisions over the last several weeks out of financial prudence stemming from the most recent earnings release.
Based on what we have been told, employees would still be eligible for bonuses based on their performance for the company. The edict would prevent them from being given promotions and being given official raises.
There is no word how long that edict will last, but given that so many employees are doing the work of several people do to pandemic related furloughs and firings, you can imagine how negatively this was received privately by those who were informed.
In regards to rumors that there was a huge company-wide meeting to inform everyone at once, we are told that is not the case. Supervisors and managers of different divisions held meetings with their staffers individually as groups over the course of the day but there was not one across-the-board all-hands-on-deck meeting to discuss the edict.
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