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Wrestling News: Details on WWE Releases, Furloughs & Morale
More on the “Black Wednesday” Fallout
WWE talent feels down in the dumps, but the company is still up?
Reports came in from all over the other day detailing more in the WWE release and furlough situation and the overall affect it is having on the company.
Firstly, as reported by PWInsider and Wrestling Inc, morale is down throughout the company. After “acclimating to the new new normal,” there was a sense of “survivor’s guilt.” It felt as if 40 percent of the company was just gone, and those still there felt awful given they were good friends with the names and faces cut from the company. And add to that, less employees means there is more workload on everyone, and that adds pressure to “get the work done.”
This goes for all parts of the company, not just the wrestlers, coaches and producers we’ve publicly been told about. Because of the COVID crisis and the inability to tour for house shows, the WWE Live Events division took a massive hit. WWE Digital was also hit hard, as well.
As for wrestling talent, while the main roster is reportedly safe for now, there are still more cuts to NXT expected. We’ve already seen Deonna Purrazzo, Aleksandar Jaksic and Dorian Mak as the first of in-ring talent cut, so those not regularly featured or firmly in the midcard and below are the most worried. No details on what that means for NXT UK, but assume they’ll be held to the same standard.
The low morale is only compounded when you add on the passing of the great Howard Finkel just yesterday. I believe Tegan Nox puts it best in a Tweet from Thursday.
Man, this week sucks! #RIPHowardFinkel 💔 https://t.co/sJnSHIMMZB
— Tegan Nox 🏴 (@TeganNoxWWE_) April 16, 2020
But not all hope is lost!
While it is tragic to have lost a legend like Fink, and to know a large swath of talent is left in limbo, details have emerged about those furloughed. Remember that being on furlough is not the same as being fired. Wikipedia defines a furlough as “a temporary leave of employees due to special needs of a company or employer, which may be due to economic conditions at the specific employer or in the economy as a whole.” Key word there: temporary.
Wrestling Inc. also reports details on what WWE is doing for their furloughed employees.
Wrestling Inc. has learned that employees who were furloughed received an information packet which stated that they were furloughed because of the “current level of work available as a result of COVID-19.” The pandemic was referred to “an unforeseen circumstance, akin to a natural disaster.” While Wednesday was the last official work day, they will remain on payroll until this Saturday, when the furlough officially begins.
The furlough end date is July 1, 2020, although it was specified that it was subject to extension “given the current situation and ongoing uncertainties.” It was noted that while there is not a definitive end date, the expectation is that it will last fewer than six months, although WWE reserves the right to extend or terminate the furlough period at their discretion. It was stated that they plan to keep employees informed of decisions made during that time. While they hope that the furloughs will be sufficient, it was noted that layoffs might be necessary.
WWE will be covering health insurance contributions during the furlough period for employees enrolled in the WWE health plan, and they will retain their seniority with the company. WWE noted that furloughed employees will not be receiving a paycheck, however they may be eligible for unemployment benefits as well as the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides additional unemployment insurance of $600 per week.
Wrestling Inc. does not this may not be the same for everyone, but anything is better than nothing.
And that’s just the producers and non-wrestlers. Details have come out that the NXT talents cut are under different non-competes than main roster (Raw and SmackDown) wrestlers. As reported by THE Wrestling Observer and his newsletter, NXT talent non-competes are only 30 days as opposed to the standard 90. That means by May 15, they can sign with other promotions, though it might be a moot point with almost no other companies able to operate right now.
Here’s the kicker.
As also reported by Wrestling Observer Newsletter, WWE is saving a LOT of money. Dave Meltzer has stated, and clarified, on his Twitter that the WWE will save $703 THOUSAND A MONTH with the cuts from Wednesday. Doing the math, and assuming none of the names cut ever come back to the WWE, that’s at least $5.6 MILLION this year. Meltzer notes the $4 million figure floating around was only if you factored in ALL cuts, including expenses, in regards to the WWE moving into their new headquarters in Stamford, CT. However, that move has been delayed by at least six months given COVID concerns.
But it was in the most recent episode of Wrestling Observer Radio that Meltzer noted other financial details. Even if the WWE doesn’t run another Saudi Arabia special this year, doesn’t run another house show this year, doesn’t make any more money off licensing deals, the company is still on track to make $1 BILLION in 2020. The WWE will still pass that threshold and make the most money they’ve ever made in a single year. This is all just potential, but also down from original projections before COVID. The figure of a billion comes from the 470 million in domestic television, then the international television, licensing deals, paid WWE Network subscriptions, and everything else you can think of that WWE does.
We shouldn’t make this into something of a “Boo! Big corporate company is bad!” even though it is a lot like that. It’s a matter of perspective. The WWE wasn’t going to fall that hard yet they let go of wrestlers to stay near a certain margin. However, and as I said before, if WWE is going to be this strong coming out of the crisis, we can only hope they do bring back the talent, if there are any still willing to return.
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
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Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
News
Chairshot News Report: TNA Impact Results, AEW Speculation For Ricochet & Shane McMahon, Vince McMahon, More!
Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!
Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!
Welcome to your daily dose of pro wrestling news–and analysis you can trust! We take all wrestling news with a grain of salt here at The Chairshot, and we hope to steer you in the right direction.
Results: TNA Impact (July 4, 2024)
Here are your results from Thursday night’s edition of TNA Impact (originally taped on June 28 at the 2300 Arena in Philly):
- Trey Miguel vs. Leon Slater ends in a no-contest after WWE NXT star Charlie Dempsey attacks everyone.
- Dani Luna battled Jody Threat to a time limit draw in the 10-Minute Challenge. They were granted the customary “5 more minutes” but were attacked by Alisha Edwards & Masha Slamovich. During the match it was revealed that Nic Nemeth had been attacked backstage.
- Frankie Kazarian defeated Mike Santana by countout to advance to the TNA World Championship Match at Slammiversary.
- Matt Hardy & Reby Hardy beat Eddie Edwards & Alisha Edwards.
- Joe Hendry pinned Jake Something to advance to the TNA World Championship Match at Slammiversary.
No surprise that Joe Hendry advanced to the world title match, but Santana-Kazarian could have gone either way. A promo video to end the show implied that Kazarian was the one who took out Nic Nemeth backstage, seemingly creating a story for them within the Slammiversary title match. No shocker that The Hardys won the tag team match, but a great surprise with Charlie Dempsey getting involved in the opener. That TNA/NXT collaboration continues to be a lot of fun.
You can catch Andrew’s Review of the event here.
Ricochet Expected To Sign With AEW
Many outlets are reporting that Ricochet’s expected landing spot remains AEW, with additional reports surfacing that his agent has been working out the details on his behalf.
Personally, I’d rather see him back in WWE. Even after an initial push in AEW, he will be a novelty act much like PAC, so I don’t see the difference. But if he’s going to AEW, here’s hoping that agent does a great job and secures quite the bag for ol’ Ric.
Vince Russo Suggests Shane McMahon As A Front Man For Vince McMahon to Purchase AEW
”We saw this with WCW, it happened before. It (purchasing AEW) could be under the guise of Shane, that’s what I’m saying. Shane is as clean as whistle. Vince could be behind it without anybody knowing it, bro.”
Those are the words of Vince Russo, who on the surface seems to be spouting nonsense. Time will tell if there is something to it all, but I wouldn’t place any wagers on this one. Shane McMahon to AEW would be an entertaining shocker, but that–like many things in AEW–would quickly wear off.
Shawn Michaels Discusses NXT Releases, Referencing Drew Gulak
During the NXT Heatwave media call, Shawn Michaels was asked about the release of Gable Steveson, but also lumped Drew Gulak in his response about main roster viability:
“From my understanding, nothing on anyone’s part other than contracts being up. Certainly, in the place of Drew Gulak. From a company standpoint, there not being anything from a main roster standpoint that they were going to be using him in. In NXT, over the last year and a half to two years, we’ve been trying to get into the process of keeping it fluid. It’s all about getting to the main roster when everything is said and done. In two or three years, if that doesn’t happen, we bring other people in or see if we’re ready to move on.”
If anything, it’s a stark reminder that NXT still exists to, above all else, populate the main roster. It’s quite the delicate balance between booking your own television show and preparing for the future, one that HBK has arguably done better than Triple H himself.
Other Odds & Ends:
- According to reports, the mini-stroke referenced by Britt Baker (DMD) on AEW Dynamite is legitimate. If so, both she and Adam Cole have been through a ton over the past 24 months.
- Mason Madden (Mace) and Mansoor, now known as the MxM Collection, showed up in ROH when featured in a vignette on this week’s broadcast. They might not have made it in WWE, but it’s good to see them getting work, and a second chance to make this gimmick their own. YEAH!
- Cody Rhodes continues to be the ultimate good dude, this time helping a fan who won tickets to Money In The Bank actually attend the event. The fan who won the tickets is in a wheelchair, and there were no more accessible seats left. That was, of course, until Cody got involved. Now the fan can be there and enjoy the show as intended when he won the contest. Cody wins again!
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
Powered by RedCircle
Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
Did your picks win points?
The AEW Continental Classic is underway, with almost everyone competing. Check in here if you haven’t seen the winners and losers of week 1!
Here are your Gold League standings!
- Jon Moxley: 1-0, 3 points
- Swerve Strickland: 1-0, 3 points
- Jay White: 1-0, 3 points
- Rush: 0-1, 0 points
- Mark Briscoe: 0-1, 0 points.
- Jay Lethal: 0-1, 0 points
Here are your Blue League standings!
- Brody King: 1-0, 3 points
- Claudio Castagnoli: 1-0, 3 points
- Daniel Garcia: 0-1, 0 points
- Eddie Kingston: 0-1, 0 points
- Bryan Danielson: Yet to Compete
- Andrade El Idolo: Yet to Compete
My Thoughts:
Nothing too crazy, nothing too wild, this tournament only just got started. The only disappointing point is that they could not get Bryan “cleared to compete” Saturday night. Not sure how much of that is shoot given the bad eye, but this was kinda the problem of wanting him in the tournament over tons of other choices. Bryan wants to face Okada for WrestleKingdom 18, how is Bryan supposed to do that at his best if he’s also gonna be in a round robin, doing five top level matches in about as many weeks? And it takes away from Andrade being able to do something. Also a little surprised we didn’t even hear from Andrade on Saturday.
Now as we heard on Saturday, round two’s matches are set. Gold League will see Mark Briscoe VS Rush, White VS Swerve, and of course, Moxley VS Lethal. Nice variety there, a couple 0-1 guys facing off, as well as two 1-0 guys, and then 1-0 VS 0-1. No offense to Lethal, but he feels like an 0-2 going up against Moxley. Hard to call the other ones but that’s the fun of it. Meanwhile, Blue League sees Brody VS Claudio in a showdown to be 2-0, then Bryan and Andrade finally jump in, Bryan against Eddie and Andrade against Garcia. Sadly, feels like Eddie and Garcia are going 0-2, no way Tony Khan is booking Bryan and Andrade to lose their first shots.
In fact, that could be half the reason they did wait on those two, that’s almost too good for just a first round opener. But I still would’ve done it, same as NJPW does stuff like that for round robins, which this is all modeled after anyway.
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
Powered by RedCircle
Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!