While WWE is allowed to continue live filming without fans, that doesn’t mean they’re not taking a financial toll thanks to the coronavirus pandemic.
WWE announced the company has released multiple wrestlers, production staff, and furloughing office employees amid the coronavirus pandemic.
“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,” WWE said in a press release. “This analysis resulted in the implementation of various short-term cost reductions and cash flow improvement actions.”
Aside from the furloughs, WWE said it would temporarily reduce salaries for its executives and board members, cut back on talent-related costs and trim spending on day-to-day operations.
All of these cuts come along at the same time the company has been deemed as an essential business in the state of Florida and live taping will resume as soon as this week.
One wrestler released by WWE, Drake Maverick, took to Twitter to say his goodbyes.
It’s sad seeing so many people losing their jobs in this new world. Hopefully, the coronavirus pandemic surpasses soon enough and maybe WWE would be in a better financial position to bring some of the released talents back.