November 19, 2001 Observer Newsletter: Mass WWF layoffs, more

In the first very public acknowledgement of the business decline being a serious issue, WWFE laid off nine percent of its front office staff, totally 39 employees, along with bouncing company President Stuart Snyder in the largest mass layoff in company history on 11/8.

The cuts were across the board, but hardest hit was the internet side, with it merging with the publications department under Shane McMahon. With the change in the internet economy and the huge drop in advertising, providing constant new content for the web site no longer generates significant income and the upkeep of the site for anyone in wrestling seems to be, at best, a loss leader that is largely there to attract viewers to sell merchandise.

With the departure of Snyder, President and Chief Operating Officer, who handled the day-to-day business since being hired in June of 2000, technically called a resignation having nothing to do with the layoffs, although few believe that description, Linda McMahon will take over more in day-to-day business activities.

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