Entertainment conglomerate Endeavor will be issue company-wide pay cuts to deal with the fallout from the ongoing coronavirus pandemic. But the UFC will be unaffected by the move.
While Endeavor is the UFC’s primary shareholder, they are not the only owner, which means the MMA promotion will not be impacted by these cost cutting measures. Endeavor previously laid off around 250 employees whose jobs were not able to be done remotely during the current shutdown for non-essential businesses across the United States.
The UFC was also unaffected by the layoffs after UFC president Dana White promised that none of his employees would be impacted by the current pandemic that’s battered the American economy in recent weeks.
Over at Endeavor, employees will see pay cuts from 0 to 30 percent, while those making under $65,000 per year will be unaffected by the reduction in salaries. Executives will shoulder the largest burden with co-CEO’s Ari Emanuel and Patrick Whitesell already forgoing their entire salaries for the rest of 2020.
Other executives will take the biggest cut in pay including Endeavor president Mark Shapiro, who will take a 50 percent pay cut in his salary.
As first reported by Deadline, the move at Endeavor is being made in hopes of staving off further layoffs as the coronavirus pandemic continues to cripple almost every business under their umbrella. In addition to serving as the primary owners behind the UFC, Endeavor also runs a massive talent agency, which has also taken a huge hit with virtually every film and television production shut down due to the COVID-19 outbreak.
As for the UFC, the company is moving ahead as they plan for the upcoming UFC 249 card on April 18 at an undisclosed location.