Source: The Wrestling Observer

UPDATE x 3: Credit Where Credit Is NOT Due: Eric Bischoff

UPDATE x 2: Word is that Eric Bischoff is gone from TNA.

According to sources, Bischoff has been "sent home" while he remains under contract with the company and will continue getting paid until his deal expires early next year. As of now, he is not expected to re-sign with the company but will be paid for the remainder of his current contract as noted.

A source said, "He wasn't at the PPV…wasn't at the last TV…won't be around. A lot of people are really happy on that one. Eric was never very well liked…Eric was very lucky that he had some very smart people propping him up in the WCW Days and those people aren't there now, and he got exposed on this run real bad."

UPDATE: Eric Bischoff has yet to comment on his current status with TNA one way or the other. In the past, Bischoff has been quick to comment on his Twitter account about incorrect reporting by the wrestling media.

According to a backstage source, if Bischoff is still the "Executive Producer" and in charge of the TNA creative process, he should be at the pay-per-view and TV events since that's a vital part of his role in the product. Since Bischoff has not been at the iMPACT! Wrestling tapings or the Bound for Glory pay-per-view, it has many wondering about his long-term status with the company.

There are a lot of talents within the company that are hoping he's gone and won't be returning. Bischoff and Hogan have been rubbed a ton of people the wrong way in recent months.

ORIGINAL: As previously reported, Erich Bischoff was not at the iMPACT! taping on Thursday night in Salt Lake City, Utah. Bischoff was also not in attendance at Bound for Glory.

Talent was told during the afternoon meeting on Thursday that Bischoff would be "working from home," which many thought was a diplomatic way of saying he was departing.

There's no official word on if he's actually gone or not. We'll keep you posted as we hear more.