Former Employees Benefits Offered

[Toates Madhackrviper]

I was just using WrestlingData as a source for one of my wrestling related projects today and in the news section they had the following story, credited the PWI

WWE's talent relations department issued letters this week to former contracted talents and referees offering them financial planning assistance in a number of ways never before offered by the company.
WWE's letter noted that they are now offering, free of charge, financial planning and debt assistance services through a financial firm for anyone who was ever under contract. The assistance would include help with financial management and for talents who are in debt, help with debt consolidation.

WWE is also offering a $5,000 per semester scholarship to any former talents who wish to further their college education. The letter noted that those interested need to enroll by 8/1 in order to be eligible for the Fall 2014 semester's scholarship and also provide proof of enrollment to WWE.

The letters were sent out earlier this week and former talents are just starting to receive them. Obviously, this is a huge positive for anyone who chooses to take WWE up on the offers.

wrestlingdata.com/index.php?befehl=news&meldung=1694#meldung

I didnt see this story in the latest news and notes thread, but I thought it was actually pretty cool and worth pointing out the good business practices WWE is taking part in. Its good to see the WWE making sure to take care of their former employees.

I wouldn't be surprised though if this lead to guys like JTG, Hawkins, and Bourne who have been hanging around for awhile collecting a paycheck for nothing being released. They may very well have created this safety net so it doesn't make bad press when they release people anymore. Which I'm assuming is why its been so long since they've released anyone without clear reason or the talent requesting it.

Its still a nice thing though, and hopefully some guys and girls can take advantage of this to get their life together. I have to agree with the article that it also makes accepting a contract more attractive to guys who aren't sure if it'll work out for them. Especially so for guys who are coming from outside the business like amateur wrestlers.

[Deleted]

That is amazing, gotta give WWE a lot of credit here.

I wonder how long you'd need to be contracted to be eligible though? I doubt this will extend to those who had developmental deals.

[FinalGwen]

[Deleted]

Jun 5, 2014 17:34:44 GMT -5 @lovehater said:

That is amazing, gotta give WWE a lot of credit here.

I wonder how long you'd need to be contracted to be eligible though? I doubt this will extend to those who had developmental deals.

Anyone that had a WWE deal is eligible just like the rehab offer. So developmental to main roster, one day to decades of employment, you worked for WWE and are not named Tammy Sytch, you are eligible.

[Deleted]

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

Good lord, can we please get some version of a "Ric Flair goes back to college!" story? A book, a comic strip, a sitcom, a reality show, a wrestling angle, ANYTHING.

[BigBadZ]

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

"Mr. Flair, this is called a prenuptial agreement......"

[The Tank]

Yep that's some great PR and boy howdy WWE sure is a respectable corporate enterprise by golly.

Now can we please get a good show again?

[Deleted]

So whats to stop you enrolling on some random course, sending WWE the proof and then doing a runner with their 5 grand?

[Deleted]

Jun 5, 2014 18:00:05 GMT -5 @graant said:

So whats to stop you enrolling on some random course, sending WWE the proof and then doing a runner with their 5 grand?

It's a scholarship, not a stipend. As with most employer-offered scholarship programs, they'll probably foot the bill for the tuition and tuition alone for up to $5k, but won't reach that amount unless tuition totals to that.

Despite that, $5k a semester is a steal. Very few public universities exceed $40k for four-year undergraduate tuition, so that's basically a free ride for anyone who wants to brush up on their education. The added bonus is that there's no explicit limit on semesters (that we yet know of) which means that if you can't go full-time, you can still maximize your benefits by going to school part-time.

[mizerable]

Jun 5, 2014 17:55:32 GMT -5 BigBadZ said:

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

"Mr. Flair, this is called a prenuptial agreement......"

"I can't...REEEEEAD!!!"

[HMARK Center]

If this is the case, then it's a positive step in the right direction. For my money (obviously not their money) it's still not enough given the times we live in, but anything's an improvement over the typical, archaic business practices most wrestling companies use.

Still, though, the key issue of "they're independent contractors, not employees!" remains.

[metylerca]

In other news, TNA is now considering a "pay to play" policy for their current and past roster, as well as Universal Studios attendees.

[Beets by Schrute]

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

Ric Flair creeping on college girls and getting hammered at frat houses. I can see why he came back.

[Deleted]

$5000 a semester (and Pell Grants if you're over 25 to pick up the rest if there is any) should pretty easily get a Bachelor degree via online classes at a pretty good selection of schools. Perfect for a wrestler on the road

[kidwow]

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

WWE should remake the old Rodney Dangerfield film "Back To School" with Flair as the star. Of course, a reality show chronicling Flair's attempts at college could be money printing money too.

[Mozenrath]

Jun 6, 2014 3:51:51 GMT -5 kidwow said:

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

WWE should remake the old Rodney Dangerfield film "Back To School" with Flair as the star. Of course, a reality show chronicling Flair's attempts at college could be money printing money too.

"Hey everyone, we're all gonna get laid!"

(Yes, I know that isn't the same movie, but whatever)

[Deleted]

An aging and pained Iron Sheik walks to the desk of WWE headquarters, his completely destroyed ankles shouting the pain of a thousand professional wrestling matches with every creak. Iron Sheik asks for some support, he is met with a rye grin and a response, 'who said you were an employee? In all terms you were an independent contractor and fully aware of that when you came into the World Wrestling Federation.'

The Iron Sheik leaves the offices, returning to his wheelchair with assistance from his nephew. Out the door, back to the car, back to contemplate how best to sell his meme when his agent next tweets for him...

Vince McMahon pulls off the skin disguise he was wearing three minutes later. It wasn't Michelle from the admin assistant team, it was him...it was him all along.

[Baldobomb-22-OH-MAN!!!]

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

next week: WWE is no longer offering former employee benefits because -someone- nearly bankrupted them.

[Hit Girl]

Will investing in WWE stock be part of the financial planning assistance?

[Johnny]

Jun 5, 2014 17:39:29 GMT -5 @lovehater said:

Jun 5, 2014 17:37:35 GMT -5 FinalGwen said:

Good lord, can we please get some version of a "Ric Flair goes back to college!" story? A book, a comic strip, a sitcom, a reality show, a wrestling angle, ANYTHING.