There was some hard feelings in WWE’s corporate offices last week as employees learned in a meeting that there are no impending promotions, raises or bonuses.
Fightful Select first reported the news with Dave Meltzer discussing it on Saturday’s Wrestling Observer Radio. Fightful also added the news didn’t apply to wrestlers or talent.
Meltzer said the reason was that WWE missed their stock price target and are attempting to rebuild it. The news comes despite the company announcing record-setting revenues even with the pandemic in addition to a new $1+ billion deal with NBCU for WWE Network to move to the Peacock streaming service in March.
Both Meltzer and Fightful said there was a lot of unhappiness following the meeting, especially with members of the production team.
As part of the recent Q4 call, WWE announced they are resuming operations on a new corporate facility, estimated to cost between $65 to $85 million. Rising costs for production on the ThunderDome were brought up several times on the call.