WWE Layoffs: Here’s What Happened Leading Up To Wednesday

On Wednesday, April 15, WWE laid off multiple WWE Superstars. The names were released and/or leaked to the public in a slow trickle over the course of the day. Unlike several WWE producers who were furloughed, the 22 WWE Superstars were "future endeavored" and will need to find other employment.

The current COVID-19 pandemic precipitated these cuts. Typically, WWE makes a bulk of its monthly revenue on live arena shows. In the wake of the pandemic, the company has been forced to cancel and refund its upcoming live events. Since March 13, WWE has been broadcasting Raw, Smackdown, NXT, and even Wrestlemania 36 from the WWE Performance Center in Orlando, Florida, with no audience.

In an April 15 press release, WWE announced a "headcount reduction" due to COVID-19 and "current government mandated impacts" on WWE. The company also announced it would be reducing executive and board member compensation; decreasing operating expenses; cutting talent expenses, third party staffing and consulting; and deferring spending on building the company's new headquarters. WWE estimates the company will save $4 million from releasing and furloughing employees and cutting their compensations.

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