In the past 48 hours, WWE released about 40 employees and there are more to come as hundreds of cuts across the company are set to take place in the coming days.
The released Superstars are being subject to 90-day and 30-day non-compete classes depending on the brands they were previously assigned to, but now that they are no longer on WWE’s pay scale, the company could potentially achieve a record-setting $1 billion in revenue in 2020.
PWInsider reports that yesterday was a dark day in the history of WWE. The passing of the legendary announcer, Howard Finkel hit the company just as hard as the talent cull itself. The employees who were lucky enough to still be on the payroll were shocked at the releases and had “survivor’s guilt.”
“Today, they were acclimating themselves to the new normal of so much of the company being on furlough or let go. One person felt at least 40% of the company was gone today vs. yesterday and I’ve had four different people mention having some form of “survivor’s guilt” over friends and co-workers being gone while they remained.”
According to Wrestling News, the morale at the WWE Headquarters in Stamford is at an all-time low; some employees who are still there are worried that they could be the ones to lose their jobs next if the promotion fails to run live events within the next couple of months.
“The word at WWE is that people in the company are now wearing different hats so they have more on their plate and the live events division was hit hard.”
Employees who have been furloughed hope to return in July but some of them have reportedly moved on and are considering transitioning into a different career field.
Only time will tell how many released employees can make it back to WWE.