WWE Making budget cuts again?

Yesterday we announced that former TNA World Tag Team Champion Chris Harris (a.k.a. Braden Walker) was released from his WWE contract. Today, WWE announced the releases of 6 more stars. Big Daddy V, Shannon Moore, Domino, Nunzio, Nick Patrick (a referee), and James Curtis (known to some as KC James) have all been released by WWE.

Moore released the following statement on his MySpace page at 3:27 p.m. EST:

No longer with WWE I just wanted to let all of you know that as of today me and WWE have parted ways. I will update you in the near future.

WWE.com still has yet to announce any of these releases. However, Shannon Moore's profile has been deleted from the SmackDown roster section. When you visit the URL to his profile, you get a "Page Not Found" message.

Also as reported earlier, Mick Foley has stated that he will most likely not be renewing his contract when it comes up later this month

Bob "Hardcore" Holly Gone For Good ?

The Wrestling Observer is reporting that Bob "Hardcore" Holly may very well be on his way out of WWE. Holly, who is now 45 years old, is not being used on WWE TV right now. It's being reported that creative has no plans to use him in the near future. It is believed that Holly would need someone like The Undertaker to vouch for his return to the ring. If something like that does not happen, he may not have a chance at returning.

Vince McMahon has always had a good relationship with Bob Holly, which is why he always seems to bounce back following absences, but this time around some backstage are not so sure that will happen again.

Holly is known for working very stiff in the ring and carries an old-school philosophy of making rookies earn their "stripes" by working them over very hard during bouts. This backfired in a match with Brock Lesnar when he was new with the company, and Holly didn't 'go' with a scheduled powerbomb from Lesnar, which resulted in a broken neck

Financial Problems for the WWE

The following statement, buried in WWE's quarterly stock filing, could have major future ramifications.

"Levy et al. On July 24, 2008, we were served with a summons from three of our former talent purporting to be on behalf of themselves and a class of similarly situated persons. The lawsuit alleges breach of contract and unjust enrichment arising from our treating them as independent contractors rather than employees, which the plaintiffs allege is an erroneous classification. We have not formally responded to the suit but intend to deny any liability for claims asserted against us and to defend vigorously against the suit."

The Levy being mentioned here is Scott "Raven" Levy who is apparently challenging WWE's classification of wrestlers. The identities of the other two wrestlers have yet to be revealed.

For those wondering, WWE classifies its wrestlers as "independent contractors" which allows them to not have to pay benefits and do other things that they otherwise would have to do for "employees." This has been a topic that has been debated for years. Some think WWE is grievously at fault while others think they do just enough to get away with it.

If the court sides with Levy, it would lead to major financial ramifications for WWE.