News Staff - December 13, 2022 - Business - Elon Musk Twitter severance pay - 1.3K views - 0 Comments - 0 Likes - 0 Reviews
Since Elon Musk's takeover, Twitter has had a lot of trouble.
DLNews Biz:
"TWITTER QUAKE WORSE AND WORSE"
Does he think laws don't apply to billionaires?
Once again, Elon Musk (51) is causing a stir. Since taking over the short message service Twitter for an unfathomable 44 billion U.S. dollars, the South African has lurched from scandal to scandal. First, he fired half the staff; then, he is said to have ordered beds to be set up at the company's headquarters in San Francisco, California.
Although Musk only bought Twitter in October, the list of misconduct can be continued at will. For weeks, employees have been up in arms against their eccentric boss - and the company.
Now the multi-billionaire is astonishing with another outrageous scheme! According to information from the renowned "New York Times," the rent for all Twitter offices has allegedly not been paid for weeks. Even the rent for the headquarters in San Francisco is long overdue. The "New York Times" refers to three informants who are said to be close to the once-celebrated company.
There is also said to be an outstanding bill for several private flights booked the week of Musk's takeover. Accordingly, the flights cost 197 725 U.S. dollars (the equivalent of about 186 000 euros). Undoubtedly a lot of money, but given the 44 billion dollars that Musk paid for Twitter, it could be more "about the principle" for him in the dispute with the former Twitter owners.
Employees could walk away empty-handed.
While Musk sends off confusing, sometimes spiteful, or cryptic tweets almost daily, for many Twitter employees, it is a matter of their livelihood. In November, Musk announced that he would only employ people who work "extremely hardcore" and offered everyone else a severance package of three months' salary if they left the company. Unbelievably: even this offer seems to be wobbling!
According to the report, senior Twitter heads are considering whether to deny severance pay to laid-off employees. A clear breach of the promise and a heartless act in the pre-Christmas season!
Moreover, it is questionable whether Musk and his freshly installed management team would get away with their ice-cold corporate culture in court. Thus, the chaotic business practices could make for a massive wave of lawsuits - and burn even more money!
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