It has been previously reported that Endeavor, who is the UFC’s parent company, is going to be laying off a portion of their employees due to the coronavirus pandemic.
A new report has been released by Variety and it states that the cutbacks (which include layoffs, furloughs and pay reductions) could affect approximately one-third, or 2,500 of their 7,500 employees. It is expected that the majority of those affected by the cutbacks will get laid off or furloughed.
Variety’s report also states that those cutbacks will affect “every division of Endeavor’s core business, including talent agency WME at every level of that company, and portfolio holdings including live events company IMG.”
An Endeavor spokesperson would also say the following concerning the cutbacks:
“The long-term prospects for Endeavor remain unchanged, but like other companies, we are taking a variety of actions to mitigate the impact of this pandemic. Since late March, we have been rolling out cost-saving measures in phases across our companies and geographies and intend to complete most of this process in late May. Approximately a third of our population will be impacted by reduced pay for reduced work, furlough, or position elimination, with the majority affected by reduced work and furlough.”
There is no word yet on whether or not those 2,500 potential cutbacks will affect the UFC or their employees in any way.
