WWE Rumors - Vince McMahon's 2-minute video message sent to Superstars before releases revealed

WWE's mass exodus has been the most unfortunate story in professional wrestling in a very long time. 16 Superstars from RAW and SmackDown were released and many other producers and backstage personnel were placed on furlough as part of the company's cost-cutting measures.

As reported earlier, WWE sent out a video to all the employees including talents informing them about the cuts that were coming soon.

Fightful Select managed to get hold of the video and they transcribed Vince McMahon's message to the roster before the releases were announced.

Vince McMahon blames financial recession for mass releases

Vince McMahon blamed the financial recession caused by the coronavirus pandemic for the unprecedented cuts in the company. McMahon told the talents and employees about what they should expect in the coming few hours and the steps they would have to take.

The WWE Boss admitted that these were not easy decisions for the company to make but he was confident of pulling through these troubled times, both as a company and as individuals.

Here's what Vince McMahon told as part of the video call:

"Thank you all for joining me today. First and foremost, I hope that you and your families are safe. What we're going through today is unprecedented, and there's no doubt these are challenging times for everyone. Given the adverse effects of the Coronavirus and the resulting financial recession, WWE, like so many companies have to decrease operating expenses.

Effective immediately, we are reducing executive and board member compensation, decreasing talent expenses, cutting third party staffing and consulting, and improving our cash flow by delaying the production of our new headquarters for at least six months. Despite all these measures, given the uncertainty we are facing today, unfortunately, we have to temporarily reduce head count. As such, a number of WWE employees will be furloughed from the company today.

At the close of my remarks, employees will receive a communication detailing their individual situations. More specifically, those impacted by the furloughs will receive a text message from Human Resources with specific information for their next steps. These are not easy decisions, but reflect the reality of the environment we're working in today. We live in a world of troubled times. I'm confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it's ever been. Thank you."

The economic instability caused by the ongoing pandemic has severely affected the biggest pro wrestling company in the world. The reactions have been incredibly heartbreaking to fathom.

Every department in the company has been impacted by the cuts. Veteran producers and other supporting staff members, who have been long-time employees, were also either released or furloughed.

WWE was forced to take drastic steps and they ended up laying off a host of talents, which included Superstars who were used for a while and a handful who were booked in angles on TV.

It's been an incredibly tough day for everyone who loves pro wrestling and our thoughts go out to all those who have had to suffer in these testing times.

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