Vince McMahon Announces MAJOR WWE Staff Cuts
Executives and wrestlers are all on the chopping block.
Vince McMahon has just told WWE employees that major cuts are coming to the promotion during a conference call conducted mere minutes ago.
PWInsider have published a summary of what was said, with McMahon calling the cutbacks and furloughs "hard decisions reflecting the current reality." As well as cutting back on executive pay, the promotion will be trimming their talent roster and overall number of employees. Many will go on furlough, though others will be let go outright, with executives set to receives texts confirming what happens next.
On top of this, WWE has temporarily shelved plans to move their headquarters from Titan Towers to new premises in Stamford, CT. The whole call lasted less than five minutes and talent releases are to be expected in the near future.
This huge, game-changing story breaks on the same day as news that WWE had suspended tomorrow's annual shareholders' meeting, and comes in the midst of one of the most tumultuous weeks in company history. The ongoing global situation has hit WWE hard. Staff members are now on the verge of losing their jobs, making this a potentially dark, dark day for Vince and his promotion.
We'll bring you more on this situation as it develops.