Eric Bischoff, former WWE and WCW executive, believes layoffs are imminent in the impending WWE-UFC merger under UFC's parent company, Endeavor. Bischoff made this prediction during the latest episode of the "83 Weeks" podcast, where he stated that there would be a lot of duplication in the merger, leading to inevitable cost cuts.
Bischoff estimates there will be more layoffs within UFC than in WWE, as he believes that Endeavor may view WWE staff as a more significant asset than their valuation suggests. "This is a guess. I suspect there'll be more layoffs ...
within UFC than there probably will be in WWE. I say that because WWE is a very sophisticated, mature business compared to UFC," said Bischoff.
WWE's Experience Gives it an Edge
According to Bischoff, WWE's 40 years of operation, compared to what he estimates as 15-20 years of serious operation from UFC, has given WWE a headstart in not only business but also marketing, international distribution, merchandising, and licensing.
"WWE is probably as sophisticated as any other media company out there, including Disney and others," he added. Bischoff's prediction of layoffs in UFC is not unfounded, as WWE is expected to finalize the merger by the end of the year.
Endeavor CEO Ari Emanuel has already asked for ousted chairman Vince McMahon to return to WWE and oversee the wrestling operations. However, Bischoff's prediction of more layoffs in UFC than WWE may surprise some, as WWE is valued less than UFC in the $21 billion merger.
But Bischoff believes that WWE's experience and expertise in the media industry make it a more valuable asset to Endeavor than its valuation suggests. Bischoff's remarks may cause concern among UFC employees, as he has doubled down on his prediction.
"I think there will be layoffs — I know there will be — but most of them will come on the UFC side instead of the WWE side. I'd be more concerned if I were working for UFC right now than if I was working for WWE," he said.
Bischoff's prediction of layoffs in UFC due to the WWE-UFC merger is not surprising, but his estimation that there will be more layoffs in UFC than in WWE may raise some eyebrows. As the merger is set to be finalized by the end of the year, it remains to be seen how many layoffs will occur and who will be affected.