Vince McMahon is keen to operate WWE in a way that would always be the ‘best for business.’ This is the reason why the idea of giant companies like Disney or Warner Bros was in the conversation to take over the biggest professional wrestling brand in the world. Those were fuelled up in a bigger way after the cost-cutting process across the board continued in recent times that included some top names within the company.
Overall 60 people were released from their duties. Several departments have merged together which will now be under one division, WWE Media, overseen by Kevin Dunn. The President of the company, Nick Khan also gained control in the process while the company cut a number of international heads which Khan will now take over.
This corporate restructuring witnessed the firing of several executive vice presidents as the company is eliminating “redundancies” and strengthening its bottom line. In the future, some bigger plans could be following up.
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During Wrestling Observer Radio, Dave Meltzer discussed the situation to come up with a very interesting idea. It was mentioned that WWE is gearing themselves up to go on sale. The recent ongoing would indirectly support that idea.
“There’s going to be people with more work, but they wanted to cut the headcount down because they’re trying to increase their profitability and that’s, I mean if they’re trying to set the thing up for a sale, that’s a good thing to do.” (Transcription by Ringside News)
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It was also noted that WWE is moving into a new headquarters from the existing one in Connecticut as they cut the workforce after looking over their staff. There are a lot of reasons behind firing so many people while but the reason behind those were mentioned as COVID-19 related “budget cuts.”
Despite the droppings in number for Raw and Smackdown viewership, WWE is raising their profits by producing content worth millions of value in terms of streaming those on Peacock. So they might just want to enter the mainstream market eventually by handing over the brand. As Vince McMahon’s days as the Chairman of the Board are numbered, perhaps the company is putting on extra efforts to secure the future.
https://www.youtube.com/watch?v=1e97EL5K-vE
