WWE Job Cuts & Linda McMahon

On this past Friday, the WWE also showed it's also feeling the effects of the recent economic slowdown. World Wrestling Entertainment promptly layed off 10% of its global workforce in the new year. The cuts were intended to reduce costs and increase profits. They will reportedly save the company about $8 million a year (source: marketwatch.com). No wrestling superstars or divas were included in that particular round of cuts.

The Sun out of United Kingdom reported that 60 employees were recently released by WWE. The move has been dubbed "The Titan Tower Massacre" as names such as Val Venis, D-Lo Brown, Bam Neely and Kevin Thorn were all axed from the rosters. Also included in the massacre of jobs were several referees, amateur "jobber wrestlers" and Vince McMahon's personal limo drivers.

According to Sun UK:

According to various sources more than 60 employees were released, in a move that WWE hope will reduce their operating expenses by $20million (£13.5million) and make the company more cost efficient in these challenging economic times.

WWE CEO Linda McMahon said: “These efficiencies will help position the company for the long term, by placing it in a stronger, more flexible position.

“With these actions, we believe we can execute our key strategic initiatives, in a more profitable manner.”

Read the full article at The Sun UK

Meanwhile as many have lost jobs at World Wrestling Entertainment, CEO Linda McMahon has taken a new position. Connecticut Governor M. Jodi Rell has appointed Linda to the 11-member Connecticut Board of Education. Rell made the following statement regarding the appointment:

”Linda clearly understands the skills and education needed to succeed in business and the type of highly educated and skilled workforce that must be available to ensure that success,”

(Source: Rell Names WWE Executive to State Board)