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Post by eJm on Apr 15, 2020 11:34:50 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. I mean, from what I remember, they weren’t generating much if any live event revenue for a while now and ticket sales for those and other events were way down. Again, I’m not an expert but that does check in some ways.
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Deleted
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Post by Deleted on Apr 15, 2020 11:35:21 GMT -5
You know...
It's interesting how with the increased pay that happened and extended contracts these past few years things this whole thing happened so now there's cuts. It's crazy that it happened but with that said, I'm hopeful that most of the talent saved up and didn't play around with their money.
The issue right now is that with everything going on nobody's in a position to get hired in a major way so they all gotta wait it out sadly.
Speaking of WWE employees, Dan Rykert (who does WWE'd podcasts now) is probably gonna be let go. He was just hired this year, he's a podcast producers, if he's staying I'd be surprised since we know how WWE cuts things.
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Post by EoE: Well There's Your Problem on Apr 15, 2020 11:35:39 GMT -5
Jeez, I can only imagine how bad things would be about to get if they stopped running shows. I mean, I know it’d be the best thing for the talents and their health, but it’d almost be to the point of having to choose between being healthy and not getting paid, or going to work and possibly getting gravely sick.
This is literally the most grim situation I’ve ever seen WWE in.
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Post by eJm on Apr 15, 2020 11:35:40 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? If anything, people like Nak who live in Florida are going to be more worthwhile to keep because they won’t have to fly him in.
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Fade
Patti Mayonnaise
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Post by Fade on Apr 15, 2020 11:35:55 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? Even trying to look at it through the lens of WWE, I’d say yeah, he’s still worth it. But you might be right. Who knows how brutal these will be and what kind of talent they’re letting go.
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Deleted
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Post by Deleted on Apr 15, 2020 11:37:12 GMT -5
So anyone got a list of who got the 500k raises? because I would bet Gallows and Anderson since they got what 400k a piece to resign and just for that ammount of money are likely getting cut.
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Deleted
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Post by Deleted on Apr 15, 2020 11:37:25 GMT -5
These ****** are getting a text message to let them know they've been fired.
That's so f***ed up.
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domrep
Hank Scorpio
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Post by domrep on Apr 15, 2020 11:39:30 GMT -5
So under normal circumstances, WWE wouldn't be letting these people go right? It's a double whammy, they're getting cut but they also don't have anywhere else to work right now. If WWE releases 10-20 wrestlers, that improves the Indie scene significantly. Now? Who knows.
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kidkamikaze10
Dennis Stamp
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Post by kidkamikaze10 on Apr 15, 2020 11:39:35 GMT -5
Somebody better have recorded that call.
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Phil Parent
El Dandy
Your Favourite Teacher
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Post by Phil Parent on Apr 15, 2020 11:39:42 GMT -5
These ****** are getting a text message to let them know they've been fired. That's so f***ed up. Are you all that surprised? I'm not.
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Post by eJm on Apr 15, 2020 11:40:13 GMT -5
These ****** are getting a text message to let them know they've been fired. That's so f***ed up. That either means they’re cowards (which I’m not ruling out) or there are so many cuts right now, they can’t get HR to call each person.
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Post by Finish Uncle Muffin’s Story on Apr 15, 2020 11:40:47 GMT -5
These ****** are getting a text message to let them know they've been fired. That's so f***ed up. It is indeed. Companies are also doing giant Zoom calls and telling everybody all at once. I think I'd rather the text. My bet is people are being called, too.
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Fade
Patti Mayonnaise
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Post by Fade on Apr 15, 2020 11:41:18 GMT -5
So under normal circumstances, WWE wouldn't be letting these people go right? It's a double whammy, they're getting cut but they also don't have anywhere else to work right now. If WWE releases 10-20 wrestlers, that improves the Indie scene significantly. Now? Who knows. Their entire M.O has been expand, expand, expand and trying to sign every talent on God’s green earth for a few years now. This is a sharp, sharp, devastating turn.
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Deleted
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Post by Deleted on Apr 15, 2020 11:42:56 GMT -5
There are probably some calls like....we are letting you go but know we will bring u back when this is all over just as some passive promise to not get them to sign with the competitor.
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Post by Finish Uncle Muffin’s Story on Apr 15, 2020 11:44:25 GMT -5
There are probably some calls like....we are letting you go but know we will bring u back when this is all over just as some passive promise to not get them to sign with the competitor. This. I actually wouldn't be surprised if they didn't outright announce talent 'furloughs.' I bet bigger names get furloughed while there are others outright cut.
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Post by honsou on Apr 15, 2020 11:44:52 GMT -5
I feel like this really is the end of an era. All of the plans WWE had of trying to run wrestling around the world are now completely out the window. Their current TV deal and brand name means they'll likely be around forever but will they be the titans of the industry that is far and away more important than any other wrestling company? Who knows
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Deleted
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Post by Deleted on Apr 15, 2020 11:47:30 GMT -5
So, if this is considered hijacking the thread I apologize and this post should be deleted. But I just have to point out that there’s almost no way that the finances of the XFL and WWE were as separate as Vince has tried to let on.
The XFL goes bankrupt. Literally the next day the Revival is granted a release they’ve been asking for for months. The bankruptcy filing goes public, reminding everyone that the WWE did, in fact, have equity in the XFL. Huge wave of releases follows. It all feels just a little too convenient for me to not be connected.
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Post by eJm on Apr 15, 2020 11:48:40 GMT -5
So, if this is considered hijacking the thread I apologize and this post should be deleted. But I just have to point out that there’s almost no way that the finances of the XFL and WWE were as separate as Vince has tried to let on. The XFL goes bankrupt. Literally the next day the Revival is granted a release they’ve been asking for for months. The bankruptcy filing goes public, reminding everyone that the WWE did, in fact, have equity in the XFL. Huge wave of releases follows. It all feels just a little too convenient for me to not be connected. It does feel like in a few months something will leak out that’ll basically join the dots, if there are some to link.
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Deleted
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Post by Deleted on Apr 15, 2020 11:53:12 GMT -5
These ****** are getting a text message to let them know they've been fired. That's so f***ed up. Remember when WWE used Bischoff firing employees through FedEx as a reason why they were better then WCW? Pepperidge Farm remembers.
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Post by mauled on Apr 15, 2020 11:54:39 GMT -5
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