What Vince McMahon Told WWE Talent Before Wednesday's Releases
How the WWE Chairman handled Black Wednesday.
A transcript of what Vince McMahon told WWE employees and independent contractors on the conference call prior to Wednesday's mass releases and furloughs has hit the internet, with Fightful Select publishing it on Thursday afternoon.
The WWE Chairman wasted little time in announcing that the promotion would be decreasing its expenses through "unprecedented, challenging times," confirming cuts to broad member compensation, "talent expenses, third party staffing and consulting," and the six-month postponement of plans to move to new headquarters.
A key snippet on the releases:-
"Despite all these measures, given the uncertainty we are facing today, unfortunately we have to temporarily reduce head count. As such, a number of WWE employees will be furloughed from the company today.
At the close of my remarks, employees will receive a communication detailing their individual situations. More specifically, those impacted by the furloughs will receive a text message from Human Resources with specific information for their next steps. These are not easy decisions, but reflect the reality of the environment we’re working in today. We live in a world of troubled times. I’m confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it’s ever been. Thank you.”
Dozens of wrestlers, producers, and other staff members were either released or furloughed on Wednesday. There's talk that more could follow as the week progresses, though there were none on Thursday, thankfully.