WWE is facing heavy backlash after a massive wave of layoffs and pay cuts aimed at saving the company millions of dollars. The timing has upset many in the industry, especially since TKO executives are receiving huge pay packages while the company’s stock hits record highs.
According to Fightful Select, many wrestlers were blindsided by requests to cut their salaries by seven figures, and agents now warn that talent will likely change how they negotiate future contracts. There is a growing fear that the “big money” deals WWE offers are no longer guaranteed to last their full term.
The situation with The New Day has become the main focus of this drama. Kofi Kingston and Xavier Woods chose to leave the company almost immediately after being asked to take less money, even though it meant walking away from millions over the next four years.
While some rumored Woods might stay for digital-only roles, sources say that isn’t happening because it would stop him from making money elsewhere. Now, many people within AEW are pushing hard for the promotion to sign the former Tag Team Champions.
Other wrestlers like Santos Escobar are also frustrated because they recently signed new deals without even talking to other companies, only to have WWE immediately demand they take a pay cut.
The way WWE handled these departures has also caused friction behind the scenes. Some veterans, including those currently home with injuries, were reportedly asked to slash their pay with only a couple of days to decide. Karrion Kross told a similar story last year when his contract expired.
There is also confusion regarding why WWE didn’t publicly thank The New Day for their contributions. While the company claims they were complimentary in private and planned to release a joint statement, that never actually happened. For many in the business, this entire month has destroyed the trust that wrestlers have in their long-term contracts.
Also Read: Kofi Kingston Reacts To TKO’s Reduced Deal Leading To WWE Departure
