According to PWInsider, WWE is in the process of performing more cost cutting measures for the company in the near future. Executives received a notice within’ the past 48 hours of these changes that will be effective immediately, including pay cuts, due to the COVID-19 pandemic.
In addition to the possibility of more staff cuts, the following changes will be happening soon.
* Reducing executive and board member compensation;
* Decreasing operating expenses;
* Cutting talent expenses, third party staffing and consulting;
* Deferring spend on the build out of the Company’s new headquarters for at least six months.
Additionally, a number of employees and producers were furloughed last month, along with a number of in-ring talents, referees, and other producers being outright released from their contracts. Previously, WWE informed furloughed workers that they hoped to have them return by July 1. That said, the information packet on the furloughs said that WWE is reserving the right to extend the length or terminate the period of the furlough at the company’s discretion.