wrestling / News

WWE Enacts More Cost-Cutting Measures This Week, Executives and Officials Receive Pay Cuts

May 30, 2020 | Posted by Jeffrey Harris
Vince McMahon WWE Money

– According to a report by PWInsider, WWE enacted a number of new cost-cutting measures this week in response to the ongoing coronavirus pandemic. Over the course of the last 48 hours, company executives and officials reportedly received notice that they would be getting pay cuts due to the pandemic’s affects on the company’s business.

Last month, WWE announced the following measures in a press release on how they would be cutting costs and making business changes due to the global pandemic:

* 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.

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WWE, Jeffrey Harris