Major WWE Layoffs Expected Soon
Tomorrow (7/31), WWE will announce their Second Quarter 2014 financial results, including an updated number of subscribers to the WWE Network.
WWE’s stock got absolutely crushed earlier this year when it was announced that the WWE Network had less than 700,000 subscribers and their TV deal with NBC Universal came in substantially lower than the company was telling investors they would receive.
It’s been widely reported that WWE will be making drastic cuts to their budget this year and the company is already taking pre-emptive measures to offset potential negative backlash following Thursday’s investor conference call.
According to PWInsider.com, up to 10% of the WWE’s employees will be laid off soon to show Wall Street that they are making serious efforts to cut costs.