Elon Musk refutes rumors that he'll fire Twitter employees before November

October 31, 2022 By Raulf Hernes

(Image Credit Google)

Elon Musk, Chief Twit, refuted claims that he intended to terminate employees before Tuesday, November 1, preventing them from receiving stock awards as part of their remuneration, as per the report. Eric Umansky, the deputy managing editor of ProPublica, tweeted that Musk was "making sure to terminate individuals at Twitter before part of their year-end compensation kicks in on Tuesday," to which Musk replied, "This is incorrect." Umansky's tweet included a screenshot from the NYT story that claimed that stock grants account for a sizable portion of an employee's compensation and that by firing workers before to that date, Musk may be able to avoid paying the grants.

What a guy. @elonmusk is making sure to fire people at Twitter before part of their year-end compensation *kicks in on Tuesday.* https://t.co/sEclZozKV5 pic.twitter.com/inw3vF0kIL
— Eric Umansky (@ericuman) October 29, 2022

Earlier rumors stated that Musk would fire 75% of the Twitter staff, but last week, after visiting the company's headquarters before his acquisition, he refuted those accusations. The CEO of Twitter, Parag Agrawal, the CFO, Sean Edgett, the general counsel, and Vijaya Gadde, the head of legal policy, trust, and safety, have supposedly all been let go.

The social media platform was officially purchased by Musk for $44 billion on Thursday. The New York Stock Exchange, where Twitter's stock has been traded since 2013, stopped doing so on Friday morning. The bird app will formally be delisted from the stock market on November 8. Each share, valued at $54.20, will be acquired by Musk and distributed to existing shareholders. According to reports, it is still unclear how Twitter's recent switch to private status will affect current employees who have stock awards.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

Elon Musk refutes rumors that he'll fire Twitter employees before November

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