WWE® Provides COVID-19 Business Update
World Wrestling Entertainment, Inc. Class A (WWE)
Last world wrestling entertainment, inc. class a earnings: 4/23 04:10 pm
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US:NYSE Investor Relations:
corporate.wwe.com/investors/investor-overview
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Source: Business Wire
STAMFORD, Conn.--(BUSINESS WIRE)--WWE (NYSE: WWE) today provided an update on measures taken by the Company in response to the current impact of COVID-19 on the organization.Due to COVID-19 and current government mandated impacts on WWE and the media business generally, the Company went through an extensive evaluation of its operations over the past several weeks. This analysis resulted in the implementation of various short-term cost reductions and cash flow improvement actions including:Reducing executive and board member compensation;Decreasing operating expenses;Cutting talent expenses, third party staffing and consulting;Deferring spend on the build out of the Company’s new headquarters for at least six months.Given the uncertainty of the situation, the Company also identified headcount reductions and made the decision to furlough a portion of its workforce effective immediately. The decision to furlough versus permanently reduce headcount reflects the fact that the Company c
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