Details Regarding Vince McMahon’s Budget Cut Call

The COVID-19 outbreak has affected the entire world and that includes pro wrestling. WWE let go of several Superstars, writers other members of staff recently.

Vince McMahon had a call with employees regarding the matter. The call was short but the point was made clear – the company had to make budget cuts due to the COVID-19 outbreak. While producers were furloughed, others were released.

Fightful Select has given a detailed word for word transcription of what Vince McMahon said on that call. Here is what he said:

“Thank you all for joining me today. First and foremost, I hope that you and your families are safe. What we’re going through today is unprecedented, and there’s no doubt these are challenging times for everyone. Given the adverse effects of the Coronavirus and the resulting financial recession, WWE, like so many companies have to decrease operating expenses. Effective immediately, we are reducing executive and board member compensation, decreasing talent expenses, cutting third party staffing and consulting, and improving our cash flow by delaying the production of our new headquarters for at least six months.

Despite all these measures, given the uncertainty we are facing today, unfortunately we have to temporarily reduce head count. As such, a number of WWE employees will be furloughed from the company today. At the close of my remarks, employees will receive a communication detailing their individual situations. More specifically, those impacted by the furloughs will receive a text message from Human Resources with specific information for their next steps.

These are not easy decisions, but reflect the reality of the environment we’re working in today. We live in a world of troubled times. I’m confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it’s ever been. Thank you.”

It was said individual calls to WWE employees started once Vince McMahon ended his call. Many wrestlers were devastated at this news and WWE received negative backlash from fans. We hope all the talents who were released eventually find work, whether in other promotions or WWE as soon as the pandemic is over.

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