WWE Chairman and CEO Vince McMahon held a conference call with WWE employees this morning and announced that there would be cutbacks and furloughs for WWE staff and the company overall as a whole, stating that these were hard decisions that reflect the current reality of the world that everyone is in.

Vince stated that the company would be cutting back on pay for its board members and executives, while plans to move out of WWE’s headquarters at Titan Tower to the new headquarters have been delayed.

Vince also stated that they would be cutting their talent roster and overall head count of employees, confirming some WWE talent releases, noting that some of those will go on furlough, but others will be let go from their responsibilities and that employees will receive text messages about where they stand going forward.