WWE Releases 2020

J. Marston

Big news day apparently...

https://twitter.com/ryansatin/status/1250455937707458560?s=19

Major cuts "across the board" in WWE upcoming...

https://www.pwinsider.com/ViewArticle.php?id=135611

Agent Coulson

Well since he works for the WWE I'm guessing he is hearing from the WWE PR department.

LineOfBeauty

Staff being furloughed and some wrestlers cut. You couldn't make this stuff up, imagine being one of the wrestlers whose travelled and performed for this company defying lockdown rules only to be fired. The lesson? Never be a mark for a wrestling company or promoter.

Agent Coulson

Agent Coulson wrote: »

After the hoarding of talent and tying down average talent to long term contracts to prevent them signing for anyone else how long will it be now till Vince will decides cancel a lot of those contracts due to the crash in WWE stock price and no live events for the foreseeable future there is a lot of downsides being paid out now.

Only took 4 days.

Insect Overlord

Have we had a 2020 "futures endeavours" thread yet?

Agent Coulson

Insect Overlord wrote: »

Have we had a 2020 "futures endeavours" thread yet?

There was a 2020 tie everyone down to a 5 year deal to stop them going to AEW thread I think

sky88

a rough time to be cut with no quick income coming for the wrestlers anytime soon

J. Marston

Here are the measures...

STAMFORD, Conn., April 15, 2020 – WWE (NYSE: WWE) today provided an update on measures taken by the Company in response to the current impact of COVID-19 on the organization.

Due to COVID-19 and current government mandated impacts on WWE and the media business generally, the Company went through an extensive evaluation of its operations over the past several weeks. This analysis resulted in the implementation of various short-term cost reductions and cash flow improvement actions including:

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.

Given the uncertainty of the situation, the Company also identified headcount reductions and made the decision to furlough a portion of its workforce effective immediately. The decision to furlough versus permanently reduce headcount reflects the fact that the Company currently believes the furlough will be temporary in nature.

The Company’s reductions of employee compensation and headcount result in an estimated monthly savings of $4 million along with cash flow improvement of $140 million primarily from the deferral in spending on the Company’s new headquarters. Additionally, the Company has substantial financial resources, both available cash and debt capacity, which currently total approximately $0.5 billion, to manage the challenges ahead. Management continues to believe the fundamentals of the Company’s business remain strong and that WWE is well positioned to take full advantage of the changing media landscape and increasing value of live sports rights over the longer term.

The Company will provide further details when it reports its first quarter 2020 results next Thursday, April 23 after the close of the market.

Agent Coulson

Maybe the Khan's will buy up WWE stock on the cheap and move for a takeover

PTH2009

At least this is keeping us very entertained

Unbelievable

sky88

a lot of regular office people will prob be cut too not just the wrestling side of things

Monokne

Hold on now...I was assured that Vince was continuing to run these live Raw & Smackdown shows to prevent the loss of jobs?

Are you telling me he is not the altruistic saint I was led to believe?

Lithium93_

sky88 wrote: »

a rough time to be cut with no quick income coming for the wrestlers anytime soon

I wonder if Braun will put his foot in it again, given his recent comment about indie wrestlers :pac:

sky88

Lithium93_ wrote: »

I wonder if Braun will put his foot in it again, given his recent comment about indie wrestlers :pac:

Oh absolutely someone is going to make a stupid comment

Agent Coulson

I bet the 5 part timers earning nearly $30 to $40m a year between them won't be cut.

Edge got that nice shiny new contract just in time.

Brock and Cena have it handy for a while now anyway.

Oh edit forgot about Taker as well.


Oh second edit forgot Goldberg as well.

sky88

With this coming a day after Vince has been put on a panel on when to open up I think we can gather there’s not going be crowds for a long time

Lithium93_

sky88 wrote: »

With this coming a day after Vince has been put on a panel on when to open up I think we can gather there’s not going be crowds for a long time

The stink of desperation from Trump to even consider re-opening right now is absolute madness, can already tell among the current chaos, that he's got his eye on the first Tuesday in November.

Lithium93_

https://twitter.com/WWE/status/1250477978657665024

BREAKING: WWE has come to terms on the release of Drake Maverick (James Curtin), Curt Hawkins (Brian Myers), Karl Anderson (Chad Allegra), EC3 (Michael Hutter) and Lio Rush (Lionel Green). We wish them all the best in their future endeavors.

sky88

Wow very suprised by some of those names especially Anderson

https://twitter.com/wwe/status/1250477978657665024?s=21

Agent Coulson

Anderson will get a job at AEW or NJPW when he wants and they start to hire again.

Lithium93_

So if Anderson's gone, how long before Gallows gets his papers? If he gets them.

Monokne

Anderson released but not Gallows.

A cynic would suggest they don't want a ready made team going to the competition.

Not me though. I think Vince was just desperate to keep hold of as many talent as possible and he could only manage one half of the OC. Very good of him.

Lithium93_

Gallows gone as well according to John Pollock.

sky88

Gallows’s is on it now I think there slowly updating ot

Itssoeasy

I'd say there's a lot of talent on both the main roster and nxt/PC who will be nervous.

sky88

Itssoeasy wrote: »

I'd say there's a lot of talent on both the main roster and nxt/PC who will be nervous.

A lot of depressed staff seeing there friends getting cut

Itssoeasy

If you're a wrestler both male and female who hasn't been used in a while and there wasn't a plan before this all hit I wouldn't like to see a phone number started (203) on your phone.

Itssoeasy

sky88 wrote: »

A lot of depressed staff seeing there friends getting cut

Yeah the morale that wasn't great before isn't getting better.

PTH2009

Thats the OC gone now and Styles back to a singles star (thats if he stays around)

ThePott

I think quite a few of these guys will land on their feet elsewhere at least when people are hiring again.
Do they not have to be bought out of their contracts? Didn't Gallows and Anderson sign contracts relatively recently.

Itssoeasy

Eric young cut.

Edit: Heath slater is cut also.

Lithium93_

Think a 2020 Release thread might be needed, wonder who else will get the dreaded phone call.

Itssoeasy

Lithium93_ wrote: »

Think a 2020 Release thread might be needed, wonder who else will get the dreaded phone call.

Well as I said if a current WWE wrestler sees a (203) number then it's not a good sign.

J. Marston

Aw, Heath Slater too. I liked him.

Chuck Noland

BREAKING: WWE has come to terms on the release of Drake Maverick (James Curtin), Curt Hawkins (Brian Myers), Karl Anderson (Chad Allegra), EC3 (Michael Hutter) and Lio Rush (Lionel Green). We wish them all the best in their future endeavors.

Itssoeasy

J. Marston wrote: »

Aw, Heath Slater too. I liked him.

And it seems being injured which would normally save you isn't going to as EC3 had been out with concusssion and he's been cut. I hope I'm wrong but I think we might see some very surprising names cut.

Chuck Noland

Eric Young
Heath Slater also

gerrybbadd

Can see the lads going back to Japan, Karl Anderson in particular was wasted in WWE. Can't see EC3 going to AEW, they've already got MJF for that role. Wonder what the craic with AJ going forward will be without Gallows & Anderson.

gerrybbadd

Chuck Noland wrote: »

Eric Young
Heath Slater also

Ah no. Not Heath. Not Heath.

Although.... The other 2 went away and gained several pounds of muscle before winning it big.... So, you're saying there's a chance?

Chuck Noland

Lithium93_ wrote: »

Think a 2020 Release thread might be needed, wonder who else will get the dreaded phone call.

I’ve just made one.

https://www.boards.ie/vbulletin/showthread.php?t=2058070438

Shane Helms tweeted “I knew I shouldn’t have answered that call” so him too perhaps

cian68

Seem to remember Karl Anderson was on a pretty good wedge. Feel bad for him getting sacked from a pay day like that. I'm sure the Bucks would like him in AEW just to have their mate around

Itssoeasy

So I count eight cut so far. What's the record for cuts by WWE ?

Lithium93_

cian68 wrote: »

Seem to remember Karl Anderson was on a pretty good wedge. Feel bad for him getting sacked from a pay day like that. I'm sure the Bucks would like him in AEW just to have their mate around

I can see Gallows and Anderson joining up with The Young Bucks again when this all blows over.

Lord TSC

Stuff moved from news thread.

ThePott

I always though Heath was one of those who would have a job for life. All main roster guys so far think this is just the beginning as they get down the list to 205, NXT and NXT UK

Agent Coulson

The Irish should be safe enough.

sky88

Hurricane and lance storm gone as agents too

Finlay and irs too

ThePott

Finlay, Mike Rotunda (IRS), Lance Storm and Hurricane are also gone as producers.

Lithium93_

So 10 gone so far, what are the odds that we MIGHT POSSIBLY see some bigger names chopped.

wrestlemaniac

No, not the Hurricane!

sky88

Supposedly IRS was on the bump today and then got released