That could be proven to be false in the end because a report from Deadline is stating that Endeavor, who is the parent company of the UFC, is reportedly laying off approximately 250 employees due to the coronavirus.
The cuts will primarily come from operational roles or from staff members who cannot perform their duties while at home. The majority of the layoffs will come from the hotels and restaurants owned by Endeavor, with a small amount coming from the WME talent agency portion of the company. Some of the employees who won’t be getting the pink slip will get their pay cuts, but the amount of pay cuts aren’t known at this time.
Endeavor co-CEO Ari Emanuel wrote the following letter to employees today, notifying them of the layoffs:
“We are in the process of assessing our operations globally to develop a plan that will protect the business while limiting the impact on as many employees as possible. In addition to the cost-cutting efforts outlined a few weeks ago, we will be implementing a number of additional measures beginning this week and through April that will affect compensation and some jobs across the company. The effects on each business will vary, and you will receive more specifics from your respective leaders, to the extent any of these decisions may impact you. As part of this, Patrick and I will not be taking a salary for the remainder of 2020.”
There is no word yet as to whether or not the laid off employees will get rehired once the coronavirus pandemic comes to an end.