Vince McMahon held a group call with WWE staff this week to address changes that would have to be put in place during this global pandemic. The call was held around Midday on Wednesday April 15th.
We then seen more than 20 Stars released of their contracts and multiple staff put on furlough.
The changes Vince made were drastic, possibly unnecessary, and if you have a look on social media it could be described as heart breaking for the Stars, their families and their fans.
Fightful Select had access to the full call and has transcribed exactly what was said during this conversation with WWE staff
“Thank you all for joining me today. First and foremost, I hope that you and your families are safe. What we’re going through today is unprecedented, and there’s no doubt these are challenging times for everyone. Given the adverse effects of the Coronavirus and the resulting financial recession, WWE, like so many companies have to decrease operating expenses. Effective immediately, we are reducing executive and board member compensation, decreasing talent expenses, cutting third party staffing and consulting, and improving our cash flow by delaying the production of our new headquarters for at least six months.
“Despite all these measures, given the uncertainty we are facing today, unfortunately we have to temporarily reduce head count. As such, a number of WWE employees will be furloughed from the company today. At the close of my remarks, employees will receive a communication detailing their individual situations. More specifically, those impacted by the furloughs will receive a text message from Human Resources with specific information for their next steps
“These are not easy decisions, but reflect the reality of the environment we’re working in today. We live in a world of troubled times. I’m confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it’s ever been. Thank you.”Fightful Select
There have been varying reports about how people were informed they were surplus to requirements, but the general thought is that we have not seen the last of the releases, so stay tuned.
We are unsure exactly how staff were informed that they were no longer essential to the company. However the individuals heard the information they are going through a hard time right now and we wish them all the best.
The worst news is that we have not seen the last of the releases so stick with Mostywrestling.com to keep up to date.