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The WWE is having the same financial problems as TNA right now. And both companies are using identical cost-cutting measures.
Both companies have had significantly smaller profits this year than their lowest estimates predicted. And both companies have been paying far too much money to part-time performers and non-wrestling personalities.
In order to recoup their losses, both companies have been cancelling certain shows, using non-essential talents less often and releasing people from their contracts.
There are 3 notable differences: One difference is that the WWE is being "smarter" about their cuts. Most of their releases have been developmental wrestlers who would not have not been improving, and office staff. The biggest name released by WWE was rarely used announcer Matt Stryker. Jim Ross was not released as a cost-cutting measure, but his firing and non-hiring of Ric Flair will save a lot of money. And the shows that have been cancelled are in expensive venues that are quite far from the most recent shows. Non-wrestlers like Zeb Coulter, and Vickie Guerrero will be appearing on non-televised events much less.
The second difference is that no-one in the WWE is currently behind on pay. Almost every TNA performer is claiming that they are overdue money.
The third difference is that WWE does not have Hulk Hogan figure on their payroll. By that, there are no backstage employees who are paid extra for making appearances in non-match segments. Whenever Triple H, Stephanie McMahon or Vince McMahon are on television, they do not get paid anything extra unless they work an actual match. Hulk Hogan earns a performer's cheque for every appearance he makes on top of his monthly wage.
Three more developmental talents were released today.
Both companies have had significantly smaller profits this year than their lowest estimates predicted. And both companies have been paying far too much money to part-time performers and non-wrestling personalities.
In order to recoup their losses, both companies have been cancelling certain shows, using non-essential talents less often and releasing people from their contracts.
There are 3 notable differences: One difference is that the WWE is being "smarter" about their cuts. Most of their releases have been developmental wrestlers who would not have not been improving, and office staff. The biggest name released by WWE was rarely used announcer Matt Stryker. Jim Ross was not released as a cost-cutting measure, but his firing and non-hiring of Ric Flair will save a lot of money. And the shows that have been cancelled are in expensive venues that are quite far from the most recent shows. Non-wrestlers like Zeb Coulter, and Vickie Guerrero will be appearing on non-televised events much less.
The second difference is that no-one in the WWE is currently behind on pay. Almost every TNA performer is claiming that they are overdue money.
The third difference is that WWE does not have Hulk Hogan figure on their payroll. By that, there are no backstage employees who are paid extra for making appearances in non-match segments. Whenever Triple H, Stephanie McMahon or Vince McMahon are on television, they do not get paid anything extra unless they work an actual match. Hulk Hogan earns a performer's cheque for every appearance he makes on top of his monthly wage.
Three more developmental talents were released today.