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World Wrestling Entertainment will slash 7 percent of its workforce after reporting operating at a loss in the second quarter due to the costs of ramping up its online-subscription service.
WWE reported a net loss of $14.5 million, compared to a net profit of $5.2 million last year. "The staff cuts, and other cost-cutting moves, would help boost operating income before depreciation and amortization by $30 million in 2015," WWE said, adding that the cuts would affect 50-60 staffers across all business units.
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