WWE has been releasing several employees including WWE Superstars for the past few months, which began with the company releasing the likes of Samoa Joe and Mickie James in April.
Since then, several WWE Superstars from NXT and the main roster were released. The latest slew of COVID-19 budget cuts took place last week, which saw the release of numerous talents and that certainly shocked the pro wrestling world.
While speaking on his 83 Weeks, WWE Hall Of Famer Eric Bischoff talked about WWE’s latest round of releases. Bischoff stated that WWE releasing talents are a good business decision.
“In many respects, it’s kind of exciting to see the shuffleboard being shuffled right in front of your eyes. The more I think about it, the more I’m convinced the WWE is not for sale. I’m not suggesting that it’ll never happen, nobody knows for sure, I certainly don’t have a crystal ball and not privy to any inside information. But I’m more and more convinced that what WWE is doing, Nick Khan probably is the catalyst for a lot of this, is making good business decisions.
“The stock went down and I thought man, it is going to be really hard for this company to get back to where they were but I think WWE’s stock today is hovering around $56-58 a share. If I’m WWE, if I’m on the board or the chairman or just a shareholder, I’m sitting here wondering what they’re going to do to get that stock price back up. That should be everybody’s goal, I’m sure it is. This is just me looking from a million miles away, if I’m involved in some of the decisions in trying to get that stock price up, I’m looking at the talent on my roster which is a significant part of the expenses in WWE.”
To make matters worse, WWE is already preparing to release more Superstars from the company eventually. Ultimately WWE will do what is best for them only without much regard for the wellbeing of their talents.
h/t to Wrestling Inc for the quotes.