UPDATE:As reported yesterday, fifty-five people in WWE lost their jobs as a result of the company’s 7% staff cut. A spokesperson for the company has now essentially confirmed that number, telling CNN Money that approximately sixty positions were cut based on the company’s total of 850 employees.
The article noted that according to the spokesperson, the cuts impacted all business units and locations.
Check out the complete article at Money.CNN.com.
ORIGINAL: The number of WWE employees being cut appears to be rising. WWE gave an official number of 55 while CNN Money reported today that the number was actually 60. Another source says that it was 82 people, which would be 8% of the staff. They range from those hired this year to someone who has been with the company for twenty years.
Cuts were made in several different departments, including accounting, WWE.com, production assistants and human relations. All fourteen people on the WWE Magazine staff were released as well. The October edition will be the last for the magazine and the contents are finished enough that the staff can be released now. WWE will pay over $4.5 million in severance.