WWE body slams employees with layoffs - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC

WWE body slams employees with layoffs

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The WWE slams workers by pile-driving 7 percent of its employees, or 60 positions, to the help wanted mat. (Source: CNN) The WWE slams workers by pile-driving 7 percent of its employees, or 60 positions, to the help wanted mat. (Source: CNN)

(CNN) – World Wrestling Entertainment is known for its bone-crushing body slams, but now the company is slamming some of its workers.

WWE has revealed plans to slash 7 percent of its workforce in an effort to save cash. A WWE spokesman said the job cuts will impact all business units and locations.

The cost-cutting moves amount to a loss of around 60 jobs, based on the company’s headcount of about 850 people.

The news comes after the company reports a second-quarter loss of $15.5 million; that’s compared to a profit of more than $5 million during the same quarter last year.

The second-quarter loss was because of the costs of launching its online-subscription service, the WWE Network.

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