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Numerous WWE performers and employees were released Wednesday following a conference call with CEO Vince McMahon, who said personnel and salary cuts were on the way due to the COVID-19 pandemic. McMahon updated his staff on the company’s standing amid the pandemic and outlined plans for personnel to be furloughed until the pandemic had passed while more were set to be released.
WWE said in an official press release: “Given the uncertainty of the situation, the Company also identified headcount reductions and made the decision to furlough a portion of its workforce effective immediately. The decision to furlough versus permanently reduce headcount reflects the fact that the Company currently believes the furlough will be temporary in nature.”
McMahon said several board members and executives would have their pay reduced and WWE has delayed moving into its new headquarters in Stamford, Connecticut.
Going into Wednesday, WWE had over 300 on-screen talents signed as wrestlers, referees, and broadcasters. This is not counting the various backstage producers and agents working with the performers at weekly shows
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