WWE is slashing costs during the coronavirus pandemic by cutting ties with an Olympic gold medalist and other performers.
In a release issued Wednesday afternoon, the company announced measures it was taking “in response to the current impact of covid-19 on the organization,” which included “headcount reductions” and furloughing “a portion of its workforce effective immediately.”
As a result, the company announced the release of Pittsburgh native Kurt Angle and others.
Angle took to Twitter to share his reaction to the news.
I wanted 2 say thank you to the WWE for the time I spent there.I made many new friends and had the opportunity to work with so many talented people. To the Superstars, continue to entertain the WWE Universe as well as you possibly can. They’re the best fans in the world. #itstrue
— Kurt Angle (@RealKurtAngle) April 15, 2020
Rusev, Drake Maverick, Curt Hawkins, Mike Kanellis, Karl Anderson, Luke Gallows, Zack Ryder, Heath Slater, EC3 and referee Mike Chioda were among some of the releases, as announements continued throughout Wednesday.
This was the largest number of WWE performers released in one day in years.
BREAKING: WWE has come to terms on the release of Drake Maverick (James Curtin), Curt Hawkins (Brian Myers), Karl Anderson (Chad Allegra), EC3 (Michael Hutter) and Lio Rush (Lionel Green). We wish them all the best in their future endeavors. https://t.co/cX449nNSLU
— WWE (@WWE) April 15, 2020
Other actions being taken include reducing executive and board member compensation, decreasing operating expenses, cutting talent expenses, third-party staffing and consulting, among other measures.
The company’s reductions of employee compensation and headcount result in an estimated monthly savings of $4 million, WWE said in the release.
