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Eric

WWE Announces Cutbacks & Releases Talent

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Vince McMahon held a call this afternoon to address WWE employees.

During the call, McMahon said that some employees will be furloughed. Vince said that he hopes to have them back when the situation is resolved, but there is no timeline. Furloughed employees will receive a text message from WWE Human Resources immediately.

WWE will also be cutting talent, which will be permanent cuts. There should be announcements on that as soon as today.

Construction of the new WWE headquarters in Stamford, CT has been delayed for six months. The move was expected to happen in early 2021.

WWE has also canceled third-party consulting contracts.

WWE also sent out an alert earlier today that they were postponing their annual meeting of shareholders. As of this writing, no further details were announced and their corporate website is down.

Wrestling Inc.'s Nick Hausman and Justin LaBar will be discussing the call on today's episode of The Wrestling Inc. Daily podcast, which will be out early this afternoon. The Wrestling Inc. Daily is released Monday-Friday afternoon. Click here to subscribe on iTunes.

 

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ooo, thanks for posting it king! @Eric

I'm so annoyed by all these companies either letting people go or what, imo businesses should start shedding money from the top down before employees are impacted.Vince and his family should all take a pay cut. WWE's supposed to be a billion dollar company and yet...this, the XFL. I'm disgusted. 

Tamina Snuka Charlotte Flair GIF - TaminaSnuka CharlotteFlair ...

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Release & furlough announcements are probably coming soon then. Furloughs are one thing. That allows employees to still have access to benefits and is just a temporary layoff. Sadly I don't think that applies to in-ring talents and they'll likely just be released.

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This sucks. 
 

I feel so bad for all the talents who are going to get released. I hope they are able to support themselves somehow until this pandemic is over. 

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I hope they're able to support themselves through all of this I really feel so sad for them. The fact that it even took this long for him to come to some sort of resolution is just sick.

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Posted (edited)

With the health advisors saying last week that they don't see concerts or sporting events coming back until late 2021, it was just a matter of time until cutbacks hit WWE. No live event gates, no WrestleMania weekend, no one buying merch at shows, etc. Other entertainment entities have already started letting people go. My heart goes out to everyone that will be out of a job.

 

Edited by Ninja Balenciaga
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5 minutes ago, Ninja Balenciaga said:

With the health advisors saying last week that they don't see concerts or sporting events coming back until late 2021, it was just a matter of time until cutbacks hit WWE. No live event gates, no WrestleMania weekend, no one buying merch at shows, etc. Other entertainment entities have already started letting people go. My heart goes out to everyone that will be out of a job.

 

Ugh, not surprised by any of these but sad for Curt Hawkins. I like him.

 

How about before they start cutting salaries, Vince cuts a few million off his salary...

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9 minutes ago, Ninja Balenciaga said:

With the health advisors saying last week that they don't see concerts or sporting events coming back until late 2021, it was just a matter of time until cutbacks hit WWE. No live event gates, no WrestleMania weekend, no one buying merch at shows, etc. Other entertainment entities have already started letting people go. My heart goes out to everyone that will be out of a job.

 

Lord! :cry:

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2 minutes ago, ChrisMC said:

Ugh, not surprised by any of these but sad for Curt Hawkins. I like him.

 

How about before they start cutting salaries, Vince cuts a few million off his salary...

They announced they'll be cutting executive and board member compensation too. Cost-cutting across the board.

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Just now, Ninja Balenciaga said:

They announced they'll be cutting executive and board member compensation too. Cost-cutting across the board.

That's a good thing at least. But I wonder if that includes Vince. He seems like the type of person who would avoid cutting his own compensation while cutting everyone else's. But hopefully I'm wrong.

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11 minutes ago, Ninja Balenciaga said:

With the health advisors saying last week that they don't see concerts or sporting events coming back until late 2021, it was just a matter of time until cutbacks hit WWE. No live event gates, no WrestleMania weekend, no one buying merch at shows, etc. Other entertainment entities have already started letting people go. My heart goes out to everyone that will be out of a job.

 

I’m a little surprised to see those names go first as I thought they’d start with Performance Centre recruitments who haven’t made TV yet. 

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Posted (edited)

4 minutes ago, Kat said:

I’m a little surprised to see those names go first as I thought they’d start with Performance Centre recruitments who haven’t made TV yet. 

That would make sense but I'm sure those are also the lowest paid performers so I can see why they might have started with main roster people. But I would definitely expect to see some recruits cut as well.

Edited by ChrisMC
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Heath Slater as well. 

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It sucks for all of them to lose their job, specially given the global economic situation right now. But in the other hand, most of the people released, like EC3, have been highly underutilized, and it gives them the chance to try luck in places where they will probably be allowed to do what they love. I hope all of them find success whatever they decide to do from now on.

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Seems to me like these are the girls who wanted to run for AEW months ago. Forming a prayer circle for Saucer Banks.

tOacpsw.gif

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Shame that these wrestlers are being let go due to the pandemic, but hopefully this allows other promotions to swipe them up and actually utilize them. EC3, for example, was one of Impact's biggest stars. Good wrestler and one of the most charismatic performers across the board, but extremely wasted in WWE once he was called to the main roster. I know some people take jabs at companies hiring ex-WWE people, but at this point in time, WWE has taken basically every big name in North America, as well as other areas of the world. They got too cocky and signed too many performers than they could handle.

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If we're talking just the main roster girlies, I can see them cutting Mickie, Tamina, and Dana. And Alicia? Not sure if she is actually still on a contract or not...

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From PWInsider: "WWE Producers  Shane Helms and Lance Storm have departed WWE as part of today's cutbacks, PWInsider.com has confirmed.

There will be additional backstage names confirmed as the day progresses."

 

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All the ones that wanted an out it seems.

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Okay so nobody important. Whew. Wish them all the best.

 

I don’t want to see ANY women’s names. I don’t use but let’s pray for Rhea and her difficulties.

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Mike Kanellis finally gonna get that release he's wanted for years

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Shane Helms & Lance Storm were cut as well. 

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