New Report Slams WWE's "Morally Heartless" Mass Releases
The definitive take on the "economically unnecessary" cuts.
Almost has passed since the mass WWE releases and furloughs of Black Wednesday (15 April) and Wrestlenomics' Brandon Thurston (the foremost independent expert on pro-wrestling finances) has come through with a writeup on the situation, editorialising a data-driven breakdown originally delivered on the 18 April episode of Wrestlenomics Radio.
Thurston uses numbers to conclude that "WWE's cost-cutting is not something that's necessary to keep the company profitable." Per the information, Vince McMahon's promotion still stands to make a record-breaking $121.1 million in cumulative operating income this year even if the ongoing global situation continues all the way through. While WWE's "fiduciary responsibility to its investors" is noted, the writeup argues that "WWE has a higher moral responsibility to not lay off workers if it can afford to do so."
Other data highlighted includes the recent dividends paid to Vince McMahon and other stockholders that would've covered the monthly compensation due to the released employees.
Also noted is the eroding trust between WWE and its consumers: the promotion has used the ongoing global situation as a "cloud" to protect its profit margin, though "the notion that people won't be smart enough to understand what's going on is unsustainable."
It'll be interesting to see how this matter is addressed during WWE's Q1 2020 earnings call, if it is at all. Said call is currently scheduled for Thursday.