According to multiple wrestling media sources, the releases made by TNA today were due to budget cuts that have been going on for a while now due to the added expenses of producing Impact on the road and recent executive departures.
These same reports also indicated that TNA talent have had their paychecks received late, with some talent being behind in paychecks for one to two months due to people in the TNA offices falling behind on payroll. One report stated that the company is behind in payroll by a month.
Sources: PWInsider.com, Prowrestling.net