WWE Slashing Costs Due to COVID-19, Salary Cuts and Staff Furloughs
WWE just announced a massive cost-saving plan in hopes to keep the company afloat during the COVID-19 pandemic ... which includes slashing top executive salaries and furloughing part of its staff.'s company spelled out the plan to its investors -- saying they've had to do tighten up the wallet since the pandemic has had a significant impact on their business operations.
"This analysis resulted in the implementation of various short-term cost reductions and cash flow improvement actions including:Cutting talent expenses, third party staffing and consulting;WWE says they also made the decision to"furlough a portion of its workforce effective immediately." WWE says the moves will help save the company roughly $4 MILLION per month --"along with cash flow improvement of $140 million primarily from the deferral in spending on the Company’s new headquarters."
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