Transcript From Vince McMahon's Conference Call to WWE Employees Released

Just before WWE started releasing and furloughing more than 40 wrestlers, backstage producers, coaches, referees and announcers on Wednesday, Vince McMahon hosted a company-wide conference call explaining why the company was opting to make this decision. The transcript of the call has made its way online via Fightful Select, in which McMahon echoes the sentiments from the corporate press release that WWE was looking to save $4 million month and produce a cash flow improvement of $140 million by delaying the WWE Headquarters move in Stamford, reducing operating expenses, reducing board member compensation and firing/furloughing a number of employees.

Check out the full transcript of McMahon's call below:

"Thank you all for joining me today. First and foremost, I hope that you and your families are safe. What we're going through today is unprecedented, and there's no doubt these are challenging times for everyone. Given the adverse effects of the Coronavirus and the resulting financial recession, WWE, like so many companies have to decrease operating expenses. Effective immediately, we are reducing executive and board member compensation, decreasing talent expenses, cutting third party staffing and consulting, and improving our cash flow by delaying the production of our new headquarters for at least six months.

Despite all these measures, given the uncertainty we are facing today, unfortunately we have to temporarily reduce head count. As such, a number of WWE employees will be furloughed from the company today. At the close of my remarks, employees will receive a communication detailing their individual situations. More specifically, those impacted by the furloughs will receive a text message from Human Resources with specific information for their next steps.

These are not easy decisions, but reflect the reality of the environment we're working in today. We live in a world of troubled times. I'm confident as a company, and most importantly, confident in you as individual employees, will pull through these tough times and come back to work and make life better than it's ever been. Thank you."

Here's a full list of every wrestler who has been released:

• Rusev
• Drake Maverick
• Karl Anderson
• Luke Gallows
• EC3
• Curt Hawkins
• Heath Slater
• Eric Young
• Lio Rush
• Aiden English
• Sarah Logan
• Erick Rowan
• Primo
• Epico
• Mike Kanellis
• Maria Kanellis
• Zack Ryder
• No Way Jose
• Deonna Purrazzo
• Aleksandar Jaksic
• MJ Jenkins
• Dan Matha
• Alyssa Marino

And here's the full list of every backstage producer/referee/writer who have either been released or furloughed:

• Kurt Angle
• Shane Helms
• Lance Storm
• Billy Kidman
• Mike Rotunda
• Dave (Fit) Finlay
• Pat Buck
• Sarah Stock
• Shawn Daivari
• Scott Armstrong
• Mike Chioda (Referee)
• Andrea Listenberger (Writer)
• Chris Guy (Performance Center Trainer)
• Serena Deeb (Performance Center Trainer)
• Kendo Kashin (Performance Center Trainer)
• Jerry Soto (Spanish Announcer)
• Josiah Williamson (Interviewer)
• Jon Quasto (Announcer)