#2. Rusev
Perhaps the biggest name released among the 20+ Superstars was Rusev. The Bulgarian Brute is a multi-time United States Champion and a former WWE title challenger as well. He's been a Superstar who has feuded with some of the biggest names in the current WWE roster and has always been viewed as a prominent Superstar until a point.
He was undefeated for close to a year before that ended against John Cena in 2015. Even after that, he continued to find success, but his last storyline will be a forgettable one. Unfortunately, his WWE run ended with an inconclusive storyline with Lana and Bobby Lashley.
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The entire idea behind that storyline was for Rusev to get the payoff. Unfortunately, it ended with an injury to Rusev, after which he was released. It's a bit surprising that WWE decided to cut Rusev from his contract, but we imagine that his injury may have kept him out for many months, to begin with.
WWE's logic, in this case, was perhaps to cut his contract and rehire him once he returns - by which everything will be expected to be normal again. We can see Rusev coming back at some point.