Elon Musk, the company’s new owner, has refuted that claimed Twitter (TWTR.N) workers will be let go before November 1 in order to dodge stock rewards that were due on that day.When a Twitter user asked about the layoffs, Musk responded, “This is untrue.”
Before Nov. 1, when employees were expected to get stock awards as part of their compensation, Musk ordered layoffs. Additionally, Musk has mandated employment layoffs across the board, with some teams being hit harder than others.
The layoffs might begin as soon as this Saturday, according to who cited unnamed sources with knowledge of the matter.According to persons with knowledge of the matter, Musk sacked Twitter’s chief executive Parag Agrawal, chief financial officer Ned Segal, and chief legal affairs and policy officer Vijaya Gadde on Thursday after the conclusion of a highly publicised $44 billion takeover of the social media network.
He said that the prevalence of fake accounts on the platform had mislead both him and Twitter’s investors. The CEOs may have gotten leaving benefits reaching close to $122 million, according to research.
The Information, citing unnamed sources with knowledge of the issue, claimed that Elon Musk sacked four senior Twitter executives, including Agrawal and Segal, “without reason,” allegedly in an effort to avoid paying severance and exercising unvested stock options.
