Earlier today, it was announced during a conference call that WWE would be making some cuts in the wake of the coronavirus pandemic.
As previously reported, WWE sent out a press release stating there would be made changes made internally. WWE recently went through an extensive evaluation of operations due to COVID-19 "current government-mandated impacts" and "the media business generally." The analysis resulted in the company taking several short-term cost reductions and cash flow improvement actions.
Some of those calls to action include:
- Reduction of executive and Board Member compensation
- A decrease in operating expenses
- Cutting talent expenses along with third-party staffing and consulting
- A delay of up to six months of the move to the new company HQ
Below is the full statement on today's releases:
Drake Maverick, Curt Hawkins and other Superstars released
WWE has come to terms on the release of Drake Maverick (James Curtin), Curt Hawkins (Brian Myers), Karl Anderson (Chad Allegra), Luke Gallows (Drew Hankinson), Heath Slater (Heath Miller), Eric Young (Jeremy Fritz), EC3 (Michael Hutter) and Lio Rush (Lionel Green). We wish them all the best in their future endeavors