Report: 10 Percent of WWE Employees Will Lose Their Jobs Following July 31 Conference Call

On Thursday, July 31, WWE will announce its second quarter results for 2014. During the conference call to report its earnings, WWE will update the number of subscribers to the WWE Network. Upon and prior to the launch of the WWE Network, WWE wanted to reach 1,000,000 subscribers by the end of 2014. On April 7, following WrestleMania XXX, it was announced 667,287 people had signed up for the WWE Network. Upon the announcement, WWE’s stock took a big hit.

There have already been rumblings that about 30 WWE employees, most from the executive wing, could lose their jobs in the coming weeks. It appears that it could be even worse than that for WWE.

According to a report by PWInsider, there will be mass layoffs following the conference call on July 31. The website noted that 10 percent of WWE employees will lose their jobs because of the report on second quarter earnings.

When a company reports lower earnings than expected, it typically lays off some of its employees. This is done to keep those on Wall Street from selling the company’s stock. With past dilemmas in the stock market, that is definitely something WWE will try to avoid come Thursday.

Editor’s Note

Wow. Brace yourselves. Tomorrow is not going to be a good day for WWE. 10 percent of employees losing their jobs? That’s insane.

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