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Here’s what Vince McMahon said to WWE employees about budget cuts

WWE

WWE

On Wednesday, WWE made a series of talent and staff cuts due to the impacts of the coronavirus on WWE’s budget.

Word got out on Wednesday morning that WWE Chairman and CEO Vince McMahon would be sending out a video to all employees where he would address the widespread cuts that would be incoming.

The video of the call only lasted about two minutes that featured McMahon talking and stating that the cuts were due to the economic instability. Fightful Select was able to get access to the call and wrote up a transcript of the call.

McMahon started out by stating he hopes all employees and their families are safe. He called the issues related to the coronavirus unprecedented, and there's no doubt these are challenging times for everyone.

McMahon stated that WWE is like so many companies that would have to decrease operating expenses. This is where he announced all of the cuts such as reducing executive and board member compensation and improving our cash flow by delaying the production of their new headquarters.

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“Despite all these measures, given the uncertainty, we are facing today, unfortunately, we have to temporarily reduce headcount. As such, a number of WWE employees will be furloughed from the company today.”

As reported, McMahon stated that after the call was over, employees would receive a communication detailing their individual situations. He said that those impacted by the furloughs will receive a text message from HR for more information.

“These are not easy decisions but reflect the reality of the environment we're working in today. We live in a world of troubled times. I'm confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it's ever been. Thank you."

Once the call was over, the company started to release talent.

The current list of cuts includes wrestlers, producers, announcers, other on-air talents, coaches, a referee, and a creative writer. Click here for the updated list of names released so far.

To read the entire transcript, you can check it out here.