STAMFORD, Conn. – Stamford-based World Wrestling Entertainment Inc. is planning to cut 7 percent of its workforce to increase the company's profitability, reports The Hartford Courant.
The job reductions will affect about 53 of the 762 positions in the company's Stamford offices as of February, according to the report.
Viewership of its online streaming service has struggled in recent months, which WWE has said is important in replacing a decline in revenue from pay-per-view events, the Courant said.
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