Sydney – World Wrestling Entertainment (WWE) has announced a 10 percent cut in staff globally – resulting in the downsizing of the Asia Pacific operations and the closure of the Sydney office. WWE was headquarted in Sydney for the region, that office is expected to close this week after staff were notified last Friday. President Asia Pacific Jonathan Sully is believed to be staying with company until February. The closure is a blow for the Sydney-based staff, after what has been described by as “APAC’s exemplary performance in 2008.” The company is expected to save around US$8 million as a result of the 10 percent cut in staffing. The layoffs will result in a one-time $3 million restructuring charge in the first quarter.