Elon Musk Denies News He Is Sacking Twitter Workers Soon To Avoid Severance Pay | Business news

New Twitter owner Elon Musk has denied reports that he plans to lay off employees before the start of next month to avoid having to make special payments as part of their compensation deal.

In response to a Twitter user asking for information on the redundancies reported by the New York Times, Moss he tweeted simply: “This is false.”

To complete his $ 44 billion (£ 38 billion) high-profile acquisition of the social media platformaccording to Reuters, Musk fired Twitter chief executive Parag Agrawal, chief financial officer Ned Segal, and head of legal affairs and policy
Vijaya Gadde

He accused them of misleading him and Twitter investors about the number of fake accounts on the platform.

According to the Equilar company, the executives have received severance payments totaling around $ 122 million (£ 105 million).

And then over the weekend, Musk was rumored to have ordered more job cuts across the company, with some teams to be cut more than others.

Those cuts, the NY Times said, would take place before November 1, when employees were expected to receive scholarships as part of their severance pay.

Read more:
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But Musk denied that this was true.

Research director at Equilar Courtney Yu told Reuters that fired executives “should receive these (severance) payments unless Elon Musk had grounds for dismissal, with the lawsuit in these cases usually breaking the law.
or violated the company policy “.


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