WWE released several employees from all divisions in the past 48 hours without issuing any prior warning. Now that the company is going to save up approximately $8 million annually based on the first wave of talent cull, it remains to be seen whether any other employee needs to be laid off to make up for the financial damages suffered during the COVID-19 pandemic.
Sportskeeda’s Tom Colohue reports that it’s presumably the end of the releases for now as well as the foreseeable future. WWE had already prepared the list for the initial batch of releases well in advance and nobody had any clue of what was going to happen when the announcement regarding the cost-cutting measures was made.
“It’s the end for right now and it could be the end completely but what’s going to happen now after they’ve done their initial batch of releases that they had planned ahead for and they knew what they were going to do. They had the list well before they actually told the people that the releases were coming. Now they will sit down and do the math and they will work out exactly how much that released based on this and they will look at that and say to themselves, ‘Is that enough?’ They will pass it to the decision-makers, they will pass it to Vince McMahon because now there is no Wilson and Barrios. It’s just Vince making these decisions. They will pass it to him and say, ‘Is this enough money cut?’”
Depending on how much money they’re saving with the recent cuts, Vince McMahon will make the final call. In case The Chairman of Board isn’t satisfied with the figure, employees can expect a second batch of releases in the coming days.
“He will then make a decision as to whether or not it is, if it isn’t, more people are going to be released.”
Only time will reveal how many people end up losing their jobs when everything is said and done.