- WWE issued a press release this morning announcing the 10% reduction of
its workforce across all areas of its global operations. The lay offs will
give the company an annual savings of around $8 million while they will also
incur an approximate $3 million one-time restructuring charge in the first
quarter of 2009. The goal is to reduce all costs by $20 million this year
while increasing earnings and margins. "These efficiencies will help
position the Company for the long term, by placing it in a stronger, more
flexible position," said Linda McMahon, WWE CEO, WWE. "With these actions,
we believe we can execute our key strategic initiatives, including our
digital strategy and international expansion, in a more profitable manner."
- The dark days at WWE headquarters in Stamford, CT, continue as the
company keeps handing out pink slips to their employees to offset costs due
to a weak economy. Several agents, TV production and office workers are as
we speak being terminated of their WWE jobs with the human resources office
lining up the next casualties which will total to a number of 60. WWE
spokesman Robert Zimmerman said that wrestlers are not directly affected by
the job cuts although it's believed some of them will get cut as well.
Usually massive lay offs come right after WrestleMania but this time the
year 2009 didn't start off very good to a lot of unfortunate individuals who
today find themselves on the unemployed list. PWInsider reported that all
those fired are being escorted out of the building by security.
- WWE released superstars Val Venis, D-Lo Brown, Val Venis, Kevin Thorn, Bam Neely,
referees Mike Posey and Jimmy Cordias and Jimmy Korderas, and long time employee Tim White.
- As massive layoffs continue at WWE headquarters, one signing was made as
Low-Ki has announced on his website that he has joined World Wrestling
Entertainment. The 29 year old - real name Brandon Silvestry - wrestled for
TNA Wrestling between 2002 and 2003 and later between 2006 and 2008 under
the name Senshi. During his second run with the company, he managed to win
the NWA tag team titles three times with Christopher Daniels and Elix
Skipper as Triple X and the TNA X Division title twice. Last November he
wrestled a dark match prior to the Smackdown! tapings losing to Primo Colon.
He has reported to Florida Championship Wrestling to continue his training
there.
- In a reported by ContactAnyCelebrity.com, WWE Superstar and current World
Heavyweight champion John Cena ranked number 5 in the top 10 most wanted
celebrities in 2008 for autographs, charitable donations, endorsements and
media requests. Miley Cyrus was number one followed by the Jonas Brothers,
Oprah Winfrey and Zac Efron. ContactAnyCelebrity.com is a website where
individuals can pay to get information on addresses, agents, managers and
publicists for over 54,000 celebrities.
