After recent cost-cutting measures during the COVID-19 outbreak, including company-wide releases in mid-April, some WWE producers and referees are seeing their pay cut by as much as 20%.
A number of executives and officials were informed in the last week that their pay would also be reduced moving forward due to the negative impact of the coronavirus pandemic.
WWE announced last month that the COVID-19 cuts would include a reduction of executive and board member compensation, a decrease in operating expenses, cutting talent expenses along with third party staffing and consulting, plus deferred spending on the location of the new WWE HQ in Stamford, CT for at least six months.
A number of employees were also furloughed, including most of the producer cuts. WWE noted internally that they hoped the furloughed employees would be brought back in July, but there’s no word yet on if that timeline is still valid.
Regarding contracted talents possibly taking pay cuts, Meltzer noted that if they were asked to take a cut, they could end up becoming free agents. This would likely be a last resort for WWE because this means other companies like AEW could try and sign them to deals.
Sources F4Wonline & PWInsider.
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