Vince McMahon informed staff of releases, furloughs and budget cuts ‘across the board’.
According to PWInsider, Vince McMahon has revealed during WWE’s conference call that there will cutbacks and furloughs for WWE staff and the company overall, stating that these were hard decisions that reflect the current reality.
McMahon stated the company would be cutting back on pay for Board Members and Executives, plans to move WWE Headquarters out of Titan Tower to the new HQ in Stamford, CT has been delayed and he also stated they would be cutting the talent roster and overall headcount of employees.
He said that some will go on furlough whereas others will be let go from their responsibilities. They will be informed via text where they stand.
WWE have also officially released a statement.