Musk and his company have agreed to settle $500 million for Twitter firings – Mitrade
Tech billionaire Elon Musk and his firm will pay $500 million to former Twitter employees who were fired without severance after he took over the social media platform. Musk and his social media company, X Corp, reached a tentative agreement to settle the lawsuit, which was filed by 6,000 former Twitter workers who argued that they were owed severance pay. The tech billionaire bought Twitter, now rebranded to X, for $44 billion. Musk did not meet the end of the bargain for former Twitter employees Attorneys for X Corp and the former employees revealed the agreement in a Wednesday court filing, with both parties asking a US appeals court to delay an upcoming court hearing to enable them to finalize a deal that would see the fired employees getting paid, in a move that would also end the litigation. However, the financial terms of the deal were not revealed. Musk acquired the platform in 2022, which resulted in 6,000 employees – more than half of its total headcount getting laid off. Among the major sweeping changes that came along with the acquisition, Musk rebranded the platform to X. The proposed class action lawsuit was filed in California by Courtney McMillian
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