Report: Vince McMahon Has Concluded Staff Reduction Process

On Thursday, July 31, WWE released its second quarter earnings report. The report noted that the WWE Network now contains 700,000 subscribers, a net gain of about 33,000, based off of the company’s report the day after WrestleMania XXX. Interestingly enough, about 128,000 subscribers were able to terminate their subscription to the WWE Network early. Even though they signed up for a six month subscription, if done through PayPal, the subscription could be terminated at any time.

With bad news coming out of the second quarter earnings report, there were rumors that it would signal WWE releasing many of its talent. Some reports suggested that about 10 percent of WWE employees could be left jobless come Thursday. WWE’s reasoning for such releases would be to not worry those on Wall Street, which would prevent a significant drop in the company’s stock. On Thursday, July 31, WWE’s stock was up .39, an increase of more than three percent.

Shortly after the stock market closed, PWInsider published a report in regards to potential layoffs by WWE. The website is reporting that Vince McMahon has emailed all remaining WWE employees that the staff reduction process is finished. If an employee was not notified about anything during the day, he or she is still employed to WWE.

The only known release by WWE over this time period was Ricardo Rodriguez. Rodriguez was released on Wednesday, July 30. However, it is unknown if his release was due to the ongoing budget cuts. On his Twitter account, “RicRod” noted that he still wants to be a wrestler. In WWE, it did not look like he would be given that chance.

Editor’s Note

Now things will get interesting. WWE’s corporate website may announce any significant off-screen departures. If any on-screen talent bit the dust, WWE.com, or insiders in the industry will likely pick up on it in the coming days.