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
WWE is the latest company to announce that it is furloughing a portion of its workforce in response to the economic downturn caused by the ongoing coronavirus pandemic.
In addition to the furloughs, the sports entertainment company announced Wednesday that it would be reducing compensation for executives and board members, deferring plans to build a new headquarters for at least six months, and releasing multiple onscreen performers and backstage producers. Those released include WWE Hall of Famer Kurt Angle, Curt Hawkins, Luke Gallows, and EC3. Backstage producers Shane Helms, Lance Storm, and Fit Finlay were also among those released by the company, with Angle having been working as a producer as well since last year.
WWE estimates that the moves will lead to a monthly savings of approximately $4 million and a cash flow improvement of $140 million, with most of the latter coming from the decision to delay building the new headquarters.
In addition to the furloughs, the sports entertainment company announced Wednesday that it would be reducing compensation for executives and board members, deferring plans to build a new headquarters for at least six months, and releasing multiple onscreen performers and backstage producers. Those released include WWE Hall of Famer Kurt Angle, Curt Hawkins, Luke Gallows, and EC3. Backstage producers Shane Helms, Lance Storm, and Fit Finlay were also among those released by the company, with Angle having been working as a producer as well since last year.
WWE estimates that the moves will lead to a monthly savings of approximately $4 million and a cash flow improvement of $140 million, with most of the latter coming from the decision to delay building the new headquarters.
- 4/15/2020
- by Joe Otterson
- Variety Film + TV
Welcome to this week’s Ring of Honor television review, right here on Nerdly. I’m Nathan Favel and we have a night of Velvet Sky’s former boy-friends fighting men with mustaches. I’m not kidding… with.
Match #1: Chris Sabin beat Silas Young
This was an excellent match that got Sabin back in the singles groove. Sabin was, once upon a time, one of wrestling’s best singles stars, with several title reigns as X-Division champion and one short run as the Tna/Impact World Heavyweight Champion, which he had won from Bully Ray, who is now dating his girl-friend at the time, Velvet Sky. That reminds me of how Jeff Goldblum and Geena Davis switched partners with, I believe Laura Dern and some-one else… maybe that didn’t happen.
Any-way, the action was smart and crisp, with Young even throwing in a magnificent flip out of nowhere.
Match #1: Chris Sabin beat Silas Young
This was an excellent match that got Sabin back in the singles groove. Sabin was, once upon a time, one of wrestling’s best singles stars, with several title reigns as X-Division champion and one short run as the Tna/Impact World Heavyweight Champion, which he had won from Bully Ray, who is now dating his girl-friend at the time, Velvet Sky. That reminds me of how Jeff Goldblum and Geena Davis switched partners with, I believe Laura Dern and some-one else… maybe that didn’t happen.
Any-way, the action was smart and crisp, with Young even throwing in a magnificent flip out of nowhere.
- 8/7/2018
- by Nathan Favel
- Nerdly
I have just finished watching the most insanely beautiful two hours of television I think I will ever see. From Total Nonstop Action, Impact Wrestling presents Total Nonstop Deletion!
The wrestling industry is filled with stories of organizations who, when their backs were against the wall, thought of the craziest things they could imagine in the hopes of bringing back their audience. During 1996 to 1997, the WWE was trailing their competitor WCW in the ratings, almost getting to the point where the company went bankrupt. Yet after changing the tone of the show from a family friendly enterprise to cutting edge, adult material, they were able to quickly close the gap and eventually win what was called the Monday Night War.
Fast forward to 2016. The Tna organization has had some ups and downs that would have sunk countless companies before them. With money woes that have seen the company get sued many times over,...
The wrestling industry is filled with stories of organizations who, when their backs were against the wall, thought of the craziest things they could imagine in the hopes of bringing back their audience. During 1996 to 1997, the WWE was trailing their competitor WCW in the ratings, almost getting to the point where the company went bankrupt. Yet after changing the tone of the show from a family friendly enterprise to cutting edge, adult material, they were able to quickly close the gap and eventually win what was called the Monday Night War.
Fast forward to 2016. The Tna organization has had some ups and downs that would have sunk countless companies before them. With money woes that have seen the company get sued many times over,...
- 12/17/2016
- by Tim Jousma
- LRMonline.com
WWE legend Chyna, real name Joanie Laurer, quite literally packed a punch – and her peers will never forget it.
The iconic WWE wrestler, who died at age 45 on Wednesday, was an original member of D-Generation X, partnering with other wrestling stars like Triple H and Sean Michaels. After her time in the ring, Laurer posed for Playboy and appeared on reality series The Surreal Life, which documented her struggle with alcohol.
Fellow female praised her as a "revolutionary" trailblazer who "shattered glass ceilings, kicked down doors and broke gender barriers."
Other costars paid tribute to her humanity. "I will always...
The iconic WWE wrestler, who died at age 45 on Wednesday, was an original member of D-Generation X, partnering with other wrestling stars like Triple H and Sean Michaels. After her time in the ring, Laurer posed for Playboy and appeared on reality series The Surreal Life, which documented her struggle with alcohol.
Fellow female praised her as a "revolutionary" trailblazer who "shattered glass ceilings, kicked down doors and broke gender barriers."
Other costars paid tribute to her humanity. "I will always...
- 4/21/2016
- by Lindsay Kimble, @lekimble
- People.com - TV Watch
Former WWE star Joanie "Chyna" Laurer has died. She was 45.
Laurer's team confirmed the news in a written statement shared on her website and Twitter on Wednesday.
#RipChynaall of us on team Chyna love you and will love you forever babe.
Felix pic.twitter.com/jOfbHUAI2j
— Chyna (@ChynaJoanLaurer) April 21, 2016
"It is with deep sadness to inform you today that we lost a true icon, a real life superhero," the statement read. "Joanie Laurer aka Chyna, the 9th wonder of the world has passed away, She will live forever in the memories of her millions of fans and all of us that loved her.
Laurer's team confirmed the news in a written statement shared on her website and Twitter on Wednesday.
#RipChynaall of us on team Chyna love you and will love you forever babe.
Felix pic.twitter.com/jOfbHUAI2j
— Chyna (@ChynaJoanLaurer) April 21, 2016
"It is with deep sadness to inform you today that we lost a true icon, a real life superhero," the statement read. "Joanie Laurer aka Chyna, the 9th wonder of the world has passed away, She will live forever in the memories of her millions of fans and all of us that loved her.
- 4/21/2016
- by Naja Rayne, @najarayne
- People.com - TV Watch
WWE.com
World Championship Wrestling has been dead and buried for nigh on fifteen years now, and its corpse has been mined repeatedly for DVD sets, retro t-shirts, and premium video game Dlc.
WWE has never been afraid to tell us about their departed rival, but their version of WCW history is skewed to say the least. We hear about Goldberg, the nWo, and maybe the cruiserweights, because that’s what WCW was doing during the period they were beating WWE, but there’s literal decades of strange, wonderful wrestling that barely rates a mention according to them.
This list goes beyond the obvious, and well as outside WCW’s most successful periods, to paint a more accurate portrait of what was once one of the greatest promotions on Earth.
20. WCW’s Musical Renaissance – 1999-2000
WWE.com
After 1999, it became harder and harder to find things to like in WCW.
World Championship Wrestling has been dead and buried for nigh on fifteen years now, and its corpse has been mined repeatedly for DVD sets, retro t-shirts, and premium video game Dlc.
WWE has never been afraid to tell us about their departed rival, but their version of WCW history is skewed to say the least. We hear about Goldberg, the nWo, and maybe the cruiserweights, because that’s what WCW was doing during the period they were beating WWE, but there’s literal decades of strange, wonderful wrestling that barely rates a mention according to them.
This list goes beyond the obvious, and well as outside WCW’s most successful periods, to paint a more accurate portrait of what was once one of the greatest promotions on Earth.
20. WCW’s Musical Renaissance – 1999-2000
WWE.com
After 1999, it became harder and harder to find things to like in WCW.
- 9/8/2015
- by Matt O'Connell
- Obsessed with Film
WWE.com
There were heavy hearts for WWE fans heading into the 2006 Royal Rumble because of the death of beloved former WWE Champion Eddie Guerrero, who tragically died of a heart attack two months earlier.
Even though Eddie was no longer with us, his name was uttered endlessly in the build up to the match mostly because of his good friend Rey Mysterio was a favorite in the match. Eddie had a long feud with Rey in 2005, but after Eddie’s death WWE had no problem in saying that Rey was one of his closest friends. While everybody else was also mourning Eddie’s death, Rey was wearing “Eg” armbands in tribute to his fallen friend.
This was a period in WWE where they were in a bit of a funk. There aren’t too many Royal Rumble matches where the Rumble match isn’t on last, but this is one of them.
There were heavy hearts for WWE fans heading into the 2006 Royal Rumble because of the death of beloved former WWE Champion Eddie Guerrero, who tragically died of a heart attack two months earlier.
Even though Eddie was no longer with us, his name was uttered endlessly in the build up to the match mostly because of his good friend Rey Mysterio was a favorite in the match. Eddie had a long feud with Rey in 2005, but after Eddie’s death WWE had no problem in saying that Rey was one of his closest friends. While everybody else was also mourning Eddie’s death, Rey was wearing “Eg” armbands in tribute to his fallen friend.
This was a period in WWE where they were in a bit of a funk. There aren’t too many Royal Rumble matches where the Rumble match isn’t on last, but this is one of them.
- 1/25/2015
- by John Canton
- Obsessed with Film
Michael Kingston is a lifelong comic book and wrestling fan. In the past, various writers have attempted to create comics that mixed the two genres, but failed in spectacular fashion. In Headlocked: The Last Territory, though, Kingston creates a realistic hero in Mike Hartman who we follow on a journey in the unforgiving business. Filled with emotion and a clear passion from its writer, Headlocked is the most realistic portrayal of wrestling in the graphic novel form to date.
For his upcoming sequel Headlocked: The Last Territory Vol. 2, we follow the continuation of Hartman’s story. Kingston has taken to Kickstarter once more to raise the funds necessary to produce the book. Teaming up with him again is wrestling legend Jerry Lawler who will be providing the cover artwork. Also joining on the project in the role of guest creators are Booker T, Rob Van Dam, A.J. Styles, John Morrison,...
For his upcoming sequel Headlocked: The Last Territory Vol. 2, we follow the continuation of Hartman’s story. Kingston has taken to Kickstarter once more to raise the funds necessary to produce the book. Teaming up with him again is wrestling legend Jerry Lawler who will be providing the cover artwork. Also joining on the project in the role of guest creators are Booker T, Rob Van Dam, A.J. Styles, John Morrison,...
- 10/30/2014
- by Andrew Soucek
- Obsessed with Film
WWE.com
When wrestling fans get all liquored up and talk smack to each other about the WWF/WWE’s most ridiculous wasted opportunities, there are a fair few that surface again and again. Shane Helms… Drew McIntyre… the Nexus… and, riding high at the top of so many lists, the late Sean O’Haire, who died this past Monday 8th September at the terribly young age of 43.
Born Sean Christopher Haire, the 6 foot 6 inch powerhouse debuted in WCW in 2000 after graduating from the company’s training programme at their development facility The Power Plant, and nailed the WCW tag titles with partner Mark Jindrak only three months later, a title he’d on to hold three times with both Jindrak and later Chuck Palumbo.
O’Haire was green and full of himself, but he could go. More than that, he was a contender: big, incredibly strong, with a fantastic look and,...
When wrestling fans get all liquored up and talk smack to each other about the WWF/WWE’s most ridiculous wasted opportunities, there are a fair few that surface again and again. Shane Helms… Drew McIntyre… the Nexus… and, riding high at the top of so many lists, the late Sean O’Haire, who died this past Monday 8th September at the terribly young age of 43.
Born Sean Christopher Haire, the 6 foot 6 inch powerhouse debuted in WCW in 2000 after graduating from the company’s training programme at their development facility The Power Plant, and nailed the WCW tag titles with partner Mark Jindrak only three months later, a title he’d on to hold three times with both Jindrak and later Chuck Palumbo.
O’Haire was green and full of himself, but he could go. More than that, he was a contender: big, incredibly strong, with a fantastic look and,...
- 9/11/2014
- by Ben Cooke
- Obsessed with Film
TMZ recently caught up with Darren Young at Lax Airport and asked if it was possible for a gay man to succeed in the WWE. Darren Young responded with, “Absolutely. Look at me. I’m a WWE superstar and to be honest with you, I’ll tell you right now, I’m gay. And I’m happy. I’m very happy”
Darren Young coming out makes him the first openly gay, contracted WWE superstar of all time. The announcement also makes him the first openly gay superstar from a major professional wrestling organisation. It was a very brave decision and a very bold one and Darren deserves a lot of credit for doing this.
Several WWE and wresting personalities commented on Darren’s big announcement.
Stephanie McMahon: “Congratulations to @DarrenYoungWWE for being the first openly gay WWE Superstar!”
John Cena: “I know Darren personally. Darren’s a great guy.
Darren Young coming out makes him the first openly gay, contracted WWE superstar of all time. The announcement also makes him the first openly gay superstar from a major professional wrestling organisation. It was a very brave decision and a very bold one and Darren deserves a lot of credit for doing this.
Several WWE and wresting personalities commented on Darren’s big announcement.
Stephanie McMahon: “Congratulations to @DarrenYoungWWE for being the first openly gay WWE Superstar!”
John Cena: “I know Darren personally. Darren’s a great guy.
- 8/15/2013
- by Peyton Morgan
- Obsessed with Film
WWE.com has announced that “The Viper” Randy Orton has been suspended for 60 days following his second violation of the WWE Talent Wellness policy. The suspension was effective as of Wednesday and he will now miss the next two months of WWE touring, which includes June’s WWE No Way Out pay-per-view and July’s WWE Money in the Bank pay-per-view.
The official WWE website didn’t go into much detail and mentioned his suspension with the following;
Stamford, Conn. – In accordance with its Talent Wellness Program, WWE has suspended Randy Orton for 60 days effective today for his second violation of the company’s policy.
Failing the WWE Talent Wellness policy basically means he was taking a substance he shouldn’t have been, similarly the reason why Rey Mysterio is also currently suspended. WWE superstars are suspended 30 days for their first violation, 60 days for their second and usually the third suspension means they are fired.
The official WWE website didn’t go into much detail and mentioned his suspension with the following;
Stamford, Conn. – In accordance with its Talent Wellness Program, WWE has suspended Randy Orton for 60 days effective today for his second violation of the company’s policy.
Failing the WWE Talent Wellness policy basically means he was taking a substance he shouldn’t have been, similarly the reason why Rey Mysterio is also currently suspended. WWE superstars are suspended 30 days for their first violation, 60 days for their second and usually the third suspension means they are fired.
- 5/31/2012
- by Matt Holmes
- Obsessed with Film
During the Six-Pack Challenge main event on last night’s WWE Raw SuperShow, a spot between R-Truth and The Miz was botched, leaving R-Truth being assisted to the back and forced out of the match early. The moment occurred when R-Truth attempted an over-the-top-rope somersault plancha onto The Miz but he failed to stop his fall being broken. R-Truth landed on his back onto the matted floor, causing his head to whip and it looked like he was seriously injured.
During the commercial break, R-Truth was led backstage and when the show returned the announce team informed that the medical staff said he was unable to continue competing.
Following last night’s Raw, Joey Styles got on Twitter and said R-Truth was fine and thankfully did not suffer any injuries.
He wrote, “Breaking News! Somehow, @RonKillings is Ok and has no injuries after flipping over the top rope, missing @MikeTheMiz and hitting the floor.
During the commercial break, R-Truth was led backstage and when the show returned the announce team informed that the medical staff said he was unable to continue competing.
Following last night’s Raw, Joey Styles got on Twitter and said R-Truth was fine and thankfully did not suffer any injuries.
He wrote, “Breaking News! Somehow, @RonKillings is Ok and has no injuries after flipping over the top rope, missing @MikeTheMiz and hitting the floor.
- 2/7/2012
- by Matt Holmes
- Obsessed with Film
Former WWE superstar Shane Helms -- aka "The Hurricane" -- is at the center of a drunk driving investigation after a Brutal motorcycle crash on Thursday that left him and his girlfriend broken and battered. According to the police report obtained by TMZ ... a witness told cops Helms was driving home from a restaurant in Smithfield, North Carolina around 9:15 Pm -- with his Gf on the bike -- when he blew through a stop sign,...
- 5/9/2011
- by TMZ Staff
- TMZ
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