WWE halts promotions and pay raises for corporate employees

PWInsider.com is reporting that WWE has halted promotions and pay raises among corporate employees due to the Q4 2020 earnings results which were not seen as good by Wall Street.

With promotions and raises gone, at least for the time being, PWInsider adds that performance bonuses will still be paid out as expected but the decision to slash the other two were met very negative by WWE employees.

WWE stocks went from $56 to trading at $46 after the company published its Q4 2020 financial results despite having a record-breaking year in terms of revenue. But the lack of a Saudi event in Q4, the year-over-year results for Q4 dipped down big time especially when adding the ThunderDome move cost and bringing everyone back from furlough.