World Wrestling Entertainment, Inc. (NYSE: WWE) on June 2 announced yet another round of employee layoffs. The layoffs appear to be part of broad cost-cutting measures by the company, which has led some investors on social media to speculate WWE could be preparing for a potential buyout.
Buyout Unlikely: Wrestlenomics author Brandon Thurston has downplayed a potential WWE sale, citing multiple sources within the company.
Whatever the reason, WWE is aggressively cutting payroll in 2021 despite reporting record revenues and profits in 2020. In February, WWE also announced a freeze on promotions, pay raises and bonuses for employees.
The freeze came less than a month after WWE signed a new deal with Comcast Corporation (NASDAQ: CMCSA) to stream its WWE Network exclusively on Peacock. The Peacock deal is reportedly valued at more than $1 billion over five years.
Related Link: Could WWE Be Up For Sale? A Look At The Speculation
2021 Roster Layoffs: While investors speculate on the reasoning for the payroll cuts, the list of layoffs continues to grow. Here’s a comprehensive list of all of WWE’s releases so far in 2021 after its record year in 2020:
Released Performers:
- Braun Strowman
- Aleister Black
- Ruby Riott
- Lana
- Santana Garret
- Buddy Murphy
- Velveteen Dream
- Jessamyn Duke
- Vanessa Borne
- Skyler Story (Brandi Lauren)
- Ezra Judge
- Kavita Devi (Kavita Dalal)
- Alexander Wolfe (Axel Tischer)
- Samoa Joe
- Billie Kay
- Peyton Royce
- Mickie James
- Chelsea Green
- Tucker
- Kalisto
- Bo Dallas
- Mojo Rawley
- Wesley Blake
- Steve Culter
- Lars Sullivan
Other Notable 2021 Releases:
- Tom Phillips – WWE RAW Commentator
- Adnan Virk – WWE RAW Commentator
- Susan Levison – Senior Vice President & Head of WWE Studios
- Dan Humphreys – International Vice President of Communications
- Jay Rosenstock – Executive Vice President of International
- Brian Pellegatto – Senior Vice President of Production
- Makham Nolan – Vice President of Media Operations
- James Wortman – Digital Media
- Adnan Virk – WWE RAW Commentator
- Jaylar Donlan – Executive Vice President of WWE’s Advanced Media Group
- Jake Clemons – NXT Referee
- Drake Younger/Drake Wuertz – NXT Referee
- Mark Carrano – Senior Director of Talent Relations
- Nicole Zeoli – Director of Talent Relations
- Mead Rust – Vice President of Communications
- Joe Villa – Manager of Publicity and Corporate Communications
Benzinga’s Take:
It does seem odd that WWE is cutting its payroll so aggressively given the positive momentum in the business as of late. WWE investors will continue to monitor the situation for additional layoffs and to see what, if anything, WWE is prepping for in the near future by scaling down its talent roster.
Photo credit: Miguel Discart, Flickr
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