Report: "Large Number" Of WWE Employees Issued $3000 Stock Awards
One week after employees were told raises and promotions had been frozen
Wrestlenomics' Brandon Thurston has reported that a "large number" of WWE employees have been given a stock award valued at $3000. The award fully vests in March.
Thurston tweeted: "WWE employees have been given a stock award valued at $3,000, according multiple sources in the company. Not every employee received the award but a large number. The stock units vest next month. Employees learned on Friday that salary raises and promotions were put on hold."
The stock award comes only one week after WWE told employees that promotions and raises had been frozen for the time being. According to Wrestling Observer's Dave Meltzer, WWE decided to announce the freeze because they missed their stock price target despite announcing the WWE Network-Peacock deal and record revenues for 2020.
Morale reportedly suffered as a result of the announcement. Employees had hoped to be rewarded for their effort after helping the company generate record revenues during the COVID-19 pandemic, especially as many of them had been doing the work of several people following pandemic-related furloughs and firings.
Written by Aidan Gibbons
Editor-in-Chief of Cultaholic.com Twitter: @theaidangibbons
