WWE releases Kurt Angle, Rusev; others furloughed due to COVID-19 pandemic
Hall of Famer Kurt Angle was released by WWE on Wednesday as part of cost-cutting measures due to the coronavirus pandemic.
Angle's departure followed a press release from WWE in which the company announced it was implementing "short-term cost reductions and cash flow improvement actions" due to COVID-19 and government-mandated impacts.
These measures include:
- Reducing executive and board member compensation
- Decreasing operating expenses
- Cutting talent expenses, third party staffing, and consulting
- Deferring spending on the build-out of the company's new headquarters for at least six months
Rusev was also among those cut loose by WWE on Wednesday. The 34-year-old Bulgarian had proven incredibly popular since his main roster debut in 2014 and was a three-time U.S. Champion. His wife, Lana, remains with WWE at this time.
A portion of WWE's workforce has also been furloughed effective immediately. WWE said the reductions will result in an estimated savings of $4 million per month and a cash flow improvement of $140 million.
In addition to Angle and Rusev, WWE also released Drake Maverick, Zack Ryder, Curt Hawkins, Karl Anderson, Luke Gallows, Heath Slater, Eric Young, Rowan, Sarah Logan, No Way Jose, Mike Chioda, Mike Kanellis, Maria Kanellis, EC3, Aiden English Lio Rush, Primo, and Epico.
Angle retired from in-ring competition at WrestleMania 35 last year and had since been working as a producer for Raw.