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Post by EoE: Well There's Your Problem on Apr 15, 2020 11:19:53 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Wel, it says that they ARE doing that, but it's fair to assume it won't be much.
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Post by mistery on Apr 15, 2020 11:20:19 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Management is taking a paycut if the press release is correct. "Reducing executive and board member compensation" is listed. corporate.wwe.com/news/company-news/2020/04-15-2020
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Post by The Summer of Muskrat XVII on Apr 15, 2020 11:20:46 GMT -5
I f***ing knew they were gonna sneak a talent purge in and blame it on the health crisis.
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thehottag
Don Corleone
We're here for one reason only: fame, fortune, & the World Wrestling Federation Tag Team Champions!
Posts: 1,668
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Post by thehottag on Apr 15, 2020 11:20:47 GMT -5
But they're still doing live shows, yeah? Because they're 'woven into the fabric of society' or something. They planning on running a skeleton crew on half pay?
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Fade
Patti Mayonnaise
Posts: 38,294
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Post by Fade on Apr 15, 2020 11:21:33 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Vince McMahon's conference call with WWE employees is currently ongoing: *McMahon just announced cutbacks and furloughs for WWE staff and the company overall, stating that these were hard decisions that reflect the current reality. *McMahon stated there would be cutting back on pay for Board Members and Executives. *Plans to move WWE Headquarters out of Titan Tower to the new HQ in Stamford, CT have been delayed. *McMahon also stated they would be cutting the talent roster and overall head count of employees. Some will go on furlough. Others will be let go from their responsibilities. Employees will receive texts about where they stand going forward. The meeting lasted less than five minutes. www.pwinsider.com/article/135611/vince-mcmahon-informs-wwe-employees-of-major-cuts-across-the-board-talent-staff-cuts-coming.html?p=1I mean, that seems possible.
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Post by eJm on Apr 15, 2020 11:22:46 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Wel, it says that they ARE doing that, but it's fair to assume it won't be much. Oh cool, so a minimal donation so they can write a counter press release to the negative publicity. Cool.
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domrep
Hank Scorpio
Posts: 7,461
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Post by domrep on Apr 15, 2020 11:22:51 GMT -5
What's the Austin Theory thing, I've never seen him work but heard he was a big prospect... not living up to expectations? Expectations too high? They're not going to cut a guy like him. My guess it's folks in that No Way Jose/Zack Ryder/Curt Hawkins tier
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Post by Finish Uncle Muffin’s Story on Apr 15, 2020 11:23:02 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Management and board members are taking pay cuts. We don't know how large they are, but they're happening.
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Fade
Patti Mayonnaise
Posts: 38,294
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Post by Fade on Apr 15, 2020 11:23:41 GMT -5
What's the Austin Theory thing, I've never seen him work but heard he was a big prospect... not living up to expectations? Expectations too high? Austin Theory is a mystery Full of change that no one sees. Clock makes are full of history
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Post by eJm on Apr 15, 2020 11:24:10 GMT -5
I mean, management could have taken a pay cut to prevent furloughing people and making cuts to possibly build some kind of confidence in the system. But hey, that’d be socialist or something. Management and board members are taking pay cuts. We don't know how large they are, but they're happening. If they’re above 3%, I’ll be shocked.
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Phil Parent
El Dandy
Your Favourite Teacher
Posts: 8,508
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Post by Phil Parent on Apr 15, 2020 11:24:25 GMT -5
What's the Austin Theory thing, I've never seen him work but heard he was a big prospect... not living up to expectations? Expectations too high? They're not going to cut a guy like him. My guess it's folks in that No Way Jose/Zack Ryder/Curt Hawkins tier I think we'll get some surprises. Some guys are making a lot of money for their performance / what they bring in.
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Post by Finish Uncle Muffin’s Story on Apr 15, 2020 11:24:48 GMT -5
Here comes speculation from me - I am a patreon for Zack Ryder and Hawkins' figure show, and Zack made some comment about "thinking he was a WWE superstar but not sure." Makes me wonder if talent started hearing about this late last week or something.
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Post by Bang Bang Bart on Apr 15, 2020 11:24:55 GMT -5
The walls are coming down on Vinnie Mac... but I wish it didn’t affect so many other people in the process. A lot of good men and women are gonna lose their jobs and I feel bad for them.
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Post by EoE: Well There's Your Problem on Apr 15, 2020 11:25:55 GMT -5
Can’t imagine we’ll be seeing Lesnar for a while. All those appearances checks to stand in the ring for a Heyman promo caught up, didn’t they?
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Phil Parent
El Dandy
Your Favourite Teacher
Posts: 8,508
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Post by Phil Parent on Apr 15, 2020 11:27:51 GMT -5
Can’t imagine we’ll be seeing Lesnar for a while. All those appearances checks to stand in the ring for a Heyman promo caught up, didn’t they? Perfect timing for it too, he just lost, he'd usually give his face a rest after a loss so he'll come back fresh later. SummerSlam probably.
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Post by EoE: Well There's Your Problem on Apr 15, 2020 11:27:56 GMT -5
The walls are coming down on Vinnie Mac... but I wish it didn’t affect so many other people in the process. A lot of good men and women are gonna lose their jobs and I feel bad for them. That’s the thing with Vince. He’s one man with all the power, but he’s still only ONE man in a company of hundreds, the vast majority of whom I’d have to assume are good, honest people. Anything that happens that you think is gonna hurt Vince, is DEFINITELY gonna hurt those people more.
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Post by eJm on Apr 15, 2020 11:28:15 GMT -5
The thing I have to question, and far be it from me to be called an expert but...most of their profits are coming from their TV deals, right? So what would be the downside of not making any cuts and carrying on as is?
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Post by mistery on Apr 15, 2020 11:31:03 GMT -5
The thing I have to question, and far be it from me to be called an expert but...most of their profits are coming from their TV deals, right? So what would be the downside of not making any cuts and carrying on as is? Merchandise and ticket sales are also a huge aspect of their revenue. And guess what? Those are massively down as well. And this isn't just WWE suffering. Every business in the entertainment medium is getting wrecked. The only shows that are drawing more viewers than before the virus are cable news shows.
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Post by Finish Uncle Muffin’s Story on Apr 15, 2020 11:32:08 GMT -5
The thing I have to question, and far be it from me to be called an expert but...most of their profits are coming from their TV deals, right? So what would be the downside of not making any cuts and carrying on as is? If FOX and USA are renegotiating or can't pay as much right now due to the pandemic and that's a clause in the contract. Again, pure speculation, but that would be the most immediate concern. They're also not generating any live event revenue, I'd bet WWE Shop isn't driving as much, etc. Often this stuff isn't in response to the situation but in fear of what could happen in the future if they keep moving on at their current pace. I'd suspect a lot of this is also to calm concerns from the Street leading into next week's earnings call.
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Phil Parent
El Dandy
Your Favourite Teacher
Posts: 8,508
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Post by Phil Parent on Apr 15, 2020 11:32:50 GMT -5
I wonder if they'll consider letting go of Nakamura, for one. You might say "AEW!" because one of his top rivals is there and he wants to live in the US, but if you're WWE and you have to cut a big contract, wouldn't one of the easiest ones to cut be Nakamura's broken down, lazy ass?
I enjoy Nakamura just taking their money, I do. A New Japan legend using WWE as his retirement fund is f***ing hilarious to me. But if you're WWE, is he worth keeping?
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