Wrestling Inc. can confirm that more WWE cutbacks took place today. A source close to the situation told us that following today’s cutbacks, WWE’s live events department is “in shambles.”
From what we were told there were between 12 – 15 people from WWE’s live events division that were let go. A high ranking Vice President was also let go, that should be made public soon.
The source told us that the news was heartbreaking and would seem to signal WWE will not be getting back to doing live events anytime soon. While the cuts were extensive, we were told that some of the “higher, higher, higher ups” could be retained. Mike Rotunda’s release in particular came up as an indicator that WWE’s plans for more upcoming live events have been scrapped.
The source made it clear to us that the many of WWE’s furloughed employees will be let go. The cutbacks were described to us as “spreading like wildfire” in every part of the company.
WWE live attendance has been declining for years. During an earnings call in October of 2018, Vince McMahon told investors that the company was aware of the problems with their live events and that they knew how to fix them. McMahon confirmed in April of 2019 that they had assembled a new team to fix the live event business, however the division continued to decline. McMahon admitted to investors earlier this year that he was not sure that the company would remain in the live event business the way they had been.
Stay with Wrestling Inc. for all the latest regarding WWE’s cutbacks happening today. WWE’s cutbacks were also a topic of discussion this morning as part of our The Wrestling Inc. Daily podcast, which you can listen to via the embedded player below.