WWE Taking More Cost-Cutting Measures

WWE needed to slash their budget in a big way. On April 15th, they released a lot of on-air talent and a ton of backstage and office workers. The company isn’t done cutting costs.

We previously reported that WWE handed down word this week that executives are getting a pay cut. It wasn’t noted exactly how much of a pay cut WWE executives are receiving.

The company plans to make more cuts as they continue money-saving efforts. In addition to reducing compensation for board members, they are also doing away with a few other things.

The company is looking to decrease their operating expenses. Efforts to record so much content in one shot at the WWE Performance Center is certainly going a long way to help with that. If they can get four television shows’ worth of programming recorded in one 10-hour taping schedule then it saves them from shooting multiple days.

They are also cutting expenses for third-party contracts and other consultation services.

Talent expenses were also cut. This was evident due to the April 15th releases. Higher contract offers might largely become a thing of the past as well.

The company is also not spending any money on they new corporate headquarters right now. WWE was in the process of relocating to another Stamford Headquarters with a much larger inclusive operation. WWE stated that they will initially divert that spending for at least six months. It could be longer.