WWE’s cost cutting measures are continuing as some producers and referees will see their pay cut as much as 20% due to the pandemic, according to our Dave Meltzer on Saturday’s Wrestling Observer Radio.
PW Insider also reported Saturday that “a number of executive and officials” were told over the last few days that their pay would be reduced.
The moves continue a trend that began on April 15th when the company announced several areas for short-term cost reductions and cash flow improvement which included “reducing executive and board member compensation; decreasing operating expenses; cutting talent expenses, third party staffing and consulting; deferring spend on the build out of the Company’s new headquarters for at least six months; and both layoffs and furloughing of a portion of their workforce immediately.”
Dozens of wrestlers, producers, referees, and other talent were laid off or furloughed as part of the moves. Meltzer said that if contracted talent were asked to take a pay cut, they could become free agents which means other groups like AEW could try to sign them. Thus, that would be a last resort.