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WWE Releases 2020

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Comments

  • Registered Users Posts: 60,001 ✭✭✭✭Agent Coulson


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


  • Registered Users Posts: 2,211 ✭✭✭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.


  • Registered Users Posts: 60,001 ✭✭✭✭Agent Coulson


    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.


  • Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 30,811 Mod ✭✭✭✭Insect Overlord


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


  • Registered Users Posts: 60,001 ✭✭✭✭Agent Coulson


    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 :)


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  • Registered Users Posts: 8,689 ✭✭✭sky88


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


  • Registered Users Posts: 23,039 ✭✭✭✭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.


  • Registered Users Posts: 60,001 ✭✭✭✭Agent Coulson


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


  • Registered Users Posts: 37,353 ✭✭✭✭PTH2009


    At least this is keeping us very entertained

    Unbelievable


  • Registered Users Posts: 8,689 ✭✭✭sky88


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


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  • Registered Users Posts: 3,929 ✭✭✭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?


  • Registered Users Posts: 48,990 ✭✭✭✭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:


  • Registered Users Posts: 8,689 ✭✭✭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


  • Registered Users Posts: 60,001 ✭✭✭✭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.


  • Registered Users Posts: 8,689 ✭✭✭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


  • Registered Users Posts: 48,990 ✭✭✭✭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.


  • Registered Users Posts: 48,990 ✭✭✭✭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.


  • Registered Users Posts: 8,689 ✭✭✭sky88


    Wow very suprised by some of those names especially Anderson

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


  • Registered Users Posts: 60,001 ✭✭✭✭Agent Coulson


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


  • Registered Users Posts: 48,990 ✭✭✭✭Lithium93_


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


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  • Registered Users Posts: 3,929 ✭✭✭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.


  • Registered Users Posts: 48,990 ✭✭✭✭Lithium93_


    Gallows gone as well according to John Pollock.


  • Registered Users Posts: 8,689 ✭✭✭sky88


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


  • Registered Users Posts: 39,284 ✭✭✭✭Itssoeasy


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


  • Registered Users Posts: 8,689 ✭✭✭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


  • Registered Users Posts: 39,284 ✭✭✭✭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.


  • Registered Users Posts: 39,284 ✭✭✭✭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.


  • Registered Users Posts: 37,353 ✭✭✭✭PTH2009


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


  • Registered Users Posts: 2,956 ✭✭✭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.


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  • Registered Users Posts: 39,284 ✭✭✭✭Itssoeasy


    Eric young cut.

    Edit: Heath slater is cut also.


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