Former Twitter executives sue Elon Musk for more than $128 million in severance
(www.npr.org)
from GlitzyArmrest@lemmy.world to technology@lemmy.world on 05 Mar 2024 09:19
https://lemmy.world/post/12753130
from GlitzyArmrest@lemmy.world to technology@lemmy.world on 05 Mar 2024 09:19
https://lemmy.world/post/12753130
Twitter’s former CEO Parag Agrawal, Chief Financial Officer Ned Segal, Chief Legal Counsel Vijaya Gadde and General Counsel Sean Edgett claim in the lawsuit filed Monday that they were fired without a reason on the day in 2022 that Musk completed his acquisition of Twitter, which he later rebranded X.
Because he didn’t want to pay their severance, the executives say Musk “made up fake cause and appointed employees of his various companies to uphold his decision.”
The lawsuit says not paying severance and bills is part of a pattern for Musk, who’s been sued by “droves” of former rank-and-file Twitter employees who didn’t receive severance after Musk terminated them by the thousands.
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This is the best summary I could come up with:
Former senior executives of Twitter are suing Elon Musk and X Corp., saying they are entitled to a total of more than $128 million in unpaid severance payments.
Twitter’s former CEO Parag Agrawal, Chief Financial Officer Ned Segal, Chief Legal Counsel Vijaya Gadde and General Counsel Sean Edgett claim in the lawsuit filed Monday that they were fired without a reason on the day in 2022 that Musk completed his acquisition of Twitter, which he later rebranded X.
Because he didn’t want to pay their severance, the executives say Musk “made up fake cause and appointed employees of his various companies to uphold his decision.”
“Under Musk’s control, Twitter has become a scofflaw, stiffing employees, landlords, vendors, and others,” says the lawsuit, filed in federal court in the Northern District of California.
The former executives claim their severance plans entitled them to one year’s salary plus unvested stock awards valued at the acquisition price of Twitter.
According to the lawsuit, the only cause Musk gave for the firings was “gross negligence and willful misconduct,” in part because Twitter paid fees to outside attorneys for their work closing the acquisition.
The original article contains 408 words, the summary contains 189 words. Saved 54%. I’m a bot and I’m open source!
Thats how you get filthy rich, by exploiting everyone and everything around you.
What a fucking douche
Yep, looks like Phony Stark is at it again.
Nice one, I’ll be using that :D
Feel free :) (I’m not the origin BTW)
Space Karen
Let me do you better one Phony stank
Stanky Phony Stark?
No just phony stank
128 million is approximately 0.061% of 210.47 billion his current worth. So basically a dollar to Elon
Who wants to bet a dollar that he throws a temper tantrum about it and refuses to pay?
Not a dollar unless you are comparing him to a very poor man
The math was for 1500 a month which to me seems about average
Ahh i thought you were doing networth
It wouldn’t be him paying though, it would be twitter/x. It was twitter at the time they got fired. X can certainly not afford to pay that since they are unprofitable as it is.
The Saudis can afford to pay it. Elon might not want to go to their embassy parties in Türkiye though.
The ammount will not hurt him.
The damage to his frail ego certainly will.
I hope it shatters his paper thin ego. Fucking leech on society with a God complex.
For Elon, ego-death is just death.
Alternate take : I wish I were entitled to severance and reasons, should I be fired.
Have you tried being European?
I have not!
You know, if we all rent a boat and go together they won’t be able to stop us all.
You can just immigrate normally. It’s not that hard for Americans.
Where’s the fun in that?
How many people did they fire without severance?
They're just butt-hurt that the severance that they built into the company for themselves and not for others was not afforded to them.
A bigger fish came along and gave them a taste of their own medicine.
Fuck 'em.
(Unless someone else comes along and proves to me that everyone fired from twitter by Elon or these 4 got 32 million dollars in severance each.)