WWE sacrificed 28 wrestlers and backstage talent on Wednesday all in the name of WWE’s stock.
That sounds crude, but it’s true.
WWE announced today that 28 individuals were fired. More full-time employees would be furloughed or laid off and construction on the company’s new headquarters has halted as well. The savings for WWE is about $4 million per month, they bragged in a press release.
That $4 million per month sounds like a lot … until you realize WWE has $90 million in cash on hand and has upwards of $500 million available if they maximized everything and extended all of their credit lines.
The cuts were, of course, blamed on coronavirus.
But make no mistake about it, these cuts were made for one reason and one reason only … to protect WWE’s stock price. The moves were made to protect profit margin. It affected a lot of lower-card talents, some of whom...
That sounds crude, but it’s true.
WWE announced today that 28 individuals were fired. More full-time employees would be furloughed or laid off and construction on the company’s new headquarters has halted as well. The savings for WWE is about $4 million per month, they bragged in a press release.
That $4 million per month sounds like a lot … until you realize WWE has $90 million in cash on hand and has upwards of $500 million available if they maximized everything and extended all of their credit lines.
The cuts were, of course, blamed on coronavirus.
But make no mistake about it, these cuts were made for one reason and one reason only … to protect WWE’s stock price. The moves were made to protect profit margin. It affected a lot of lower-card talents, some of whom...
- 4/16/2020
- by Mike Cecchini
- Den of Geek
ImpactWrestling.com
Ethan Carter III, the storyline nephew of Tna President Dixie Carter, is a man who has turned disappointment into opportunity. Originally languishing in WWE’s developmental system as Derrick Bateman, he was released after 4 years with the company and was soon picked up by Tna. They saw potential in the man and over the past two years, his character has carefully been crafted into one of the real success stories of the company. Rather than being someone who made their name in the WWE, Carter (real name Michael Hutter, 32) has been a home-grown success for Tna.
Carter is still undefeated in Tna since starting with the company in 2013 and his gradual rise to the top is set to potentially peak at Tna’s next pay-per-view show, Slammiversary Xiii on June 28th 2015, when he challenges Olympic gold medallist and current reigning Tna World Heavyweight Champion, Kurt Angle for his title.
Ethan Carter III, the storyline nephew of Tna President Dixie Carter, is a man who has turned disappointment into opportunity. Originally languishing in WWE’s developmental system as Derrick Bateman, he was released after 4 years with the company and was soon picked up by Tna. They saw potential in the man and over the past two years, his character has carefully been crafted into one of the real success stories of the company. Rather than being someone who made their name in the WWE, Carter (real name Michael Hutter, 32) has been a home-grown success for Tna.
Carter is still undefeated in Tna since starting with the company in 2013 and his gradual rise to the top is set to potentially peak at Tna’s next pay-per-view show, Slammiversary Xiii on June 28th 2015, when he challenges Olympic gold medallist and current reigning Tna World Heavyweight Champion, Kurt Angle for his title.
- 5/31/2015
- by Dean Ayass
- Obsessed with Film
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.