WWE Releases Wrestlers, Furloughs Staff and Cuts Salaries Due to Coronavirus [TheStreet.com]
World Wrestling Entertainment, Inc. Class A (WWE)
Last world wrestling entertainment, inc. class a earnings: 4/23 04:10 pm
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Source: TheStreet.com
World Wrestling Entertainment(WWEGet ReportA report from Sports IllustratedAt last check WWE shares were up 1.6% to $38.98. The S&P 500 Index recently was off 1.74%.The Stamford, Conn., company said it would also cut expense related to operations and talent, reduce third-party staffing and consulting, and defer spending on the buildout of its new headquarters for at least six months.The WWE said Kurt Angle, Drake Maverick, Curt Hawkins Karl Anderson, Luke Gallows, Heath Slater, Eric Young , EC3, Aiden English and Lio Rush were all released.The WWE said the actions will save an estimated $4 million a month, along with cash-flow improvement of $140 million, primarily from the deferred spending on the new headquarters.The company, which is scheduled to release earnings on April 23, said it had about $500 million of cash and debt capacity "to manage the challenges ahead.""Management continues to believe the fundamentals of the company’s business remain strong and that WWE is well position
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