⚡️ Get the free App now
Favorites Edit

WWE Rumors - 2 important long-term employees released without prior notice

Modified 02 Feb 2020, 07:46 IST

Vince McMahon.
Vince McMahon.

The wrestling world has been shaken by the news of the ousters of George Barrios and Michelle Wilson from WWE. The long-time executives were with the company for more than ten years and were credited for the financial progress that the company had made in the past decade.

Sportskeeda's very own Tom Colohue shared more details about the unexpected firings in his new video.

Tom stated that the move to axe Barrios and Wilson was not debated upon much and they weren't even informed about the decision in advance.

The decision was made on short notice and it had a tremendously negative financial impact on the company, who lost $1 billion in terms of its value in just one night.

Tom explained:

It was very clear from the initial statement that this was a shock move or at least a very short-term choice. It wasn’t something that was particularly debated or even something Barrios or Wilson was aware of in the forefront and the time beforehand so that they could prepare for it.
It is mentioned in the document that a shortlist of candidates is not already prepared. This is one of the reasons there has been an instantaneous financial impact on the company. When it comes to economic transactions, when it comes to stocks, shares, uncertainty is the worst thing you can have. We’ve seen it quite recently, anytime there is an election, a country’s economic status becomes unstable.
This is the exact same thing happening here. And this is a prime reason why the WWE stock opened the next day after a 25% hit there or thereabout. Ultimately the value of the company has lost a billion dollars essentially overnight. I just want to say on top of that, if you want to keep up to date with that stock information, follow the wrestlenomics channel, who has been really keeping track and is on top of the ball with this one, they are worth a follow if you are interested in wrestling and it’s place in the economy.
Published 02 Feb 2020, 07:46 IST
Fetching more content...