Jim Ross Comments On Recent Firings, WWE Stock, Austin, More

Jim Ross has posted his latest blog at JRsBarBQ.com where he speaks on WWE’s huge layoff spree this week. Here’s what he said: “Black Friday in Stamford at WWE world HQ was a challenging day for many as several people were laid off due to budget cuts backs and a challenging economy with the hope of making the WWE more cost efficient in an overriding effort to reduce $20M in operating expenses. Any one who has followed the economic state in America and watches the news on TV even periodically should not be surprised at these unfortunate developments. I have no idea who all internally got released but I am sure that there are some that I worked with in the corporate side since the mid 90’s. I was surprised and particularly saddened by the release of Tim “The Friendly Tap” White, former referee turned talent/live event producer who was one of the nicest guys in the business. Tim will be just fine but I will certainly miss him. While no one wants to see any one lose their job, I can say that often times getting leaner lends itself to becoming more productive and increases communication within a corporate environment. I’m a proponent that in some areas of any company that the “too many cooks can spoil the soup” theory is still applicable. Bottom line and speaking from experience, having to give people the news that they are being let go is never a positive experience and is the toughest part of being an administrator. I can also tell you that after being on the other side of the coin, the one getting the pink slip, that it isn’t the end of the world if you choose for it not to be and can be perceived as a blessing in disguise if the one being let go picks themselves up and moves forward in a positive manner. A “poor me” attitude won’t buy any groceries. Historically, in corporations the size of the WWE, these drastic changes are often times an on going process for a few weeks until all the cuts have all been made and the restructuring, for lack of a better term, has been put in place. Hopefully, no one else is going to be let go but I expect that there will be several, positive internal changes made over the next few weeks.”

WWE stock closed at $10.51 yesterday following their announcement of cutting 10% of their workforce, just slightly above the day’s low of $10.49.

Steve Austin’s latest film project, “Damages,” is now in post-production and should be released this year. Austin plays a former criminal that ends up involved in an illegal fighting ring.

WWE releases a total of 14 (so far) – full updated list w/ new names!