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Final word on today's WWE staff reduction and the stock market's reaction to today's news

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On today's WWE investor conference call, Chairman and CEO Vince McMahon confirmed a 7% reduction in staff.  As business closed in Stamford, Connecticut, we now have the details of what exactly that means for the employees of the company.

The Wrestling Observer reports that 7% translated to fifty-five people who lost their jobs today.

An email came at late in the day to remaining employees that the layoffs were over, per Mike Johnson at  Employees who had not been informed that their positions were eliminated by the time they received the message from Vince McMahon were therefore safe.

After rising sharply at the open just after the second quarter financial reports were released, the price per share declined slightly from the time just before the conference call started at 11AM Eastern time until the closing bell.  Still, the stock was up 3.23% to close $.39 higher at $12.48, which has to be seen as a vote of confidence from the market for WWE's management team and their plan for WWE Network.

Cageside Seats wishes the best to the folks who lost their jobs today.

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