Musk, X Corp to settle $500-million lawsuit over Twitter firings

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Elon Musk and his social media company X Corp have reached a tentative agreement to settle a lawsuit filed by former Twitter employees who said they were owed $500 million in severance pay.

Attorneys for X Corp and the former Twitter employees reported the deal in a Wednesday court filing, in which both sides asked a US appeals court to delay an upcoming court hearing so that they could finalise a deal that would pay the fired employees and end the litigation. The financial terms of the deal were not disclosed.

Musk fired approximately 6,000 employees…



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Musk, X Corp to settle $500-million lawsuit over Twitter firings



Elon Musk and his social media company X Corp have reached a tentative agreement to settle a lawsuit filed by former Twitter employees who said they were owed $500 million in severance pay.

Attorneys for X Corp and the former Twitter employees reported the deal in a Wednesday court filing, in which both sides asked a US appeals court to delay an upcoming court hearing so that they could finalise a deal that would pay the fired employees and end the litigation. The financial terms of the deal were not disclosed.

Musk fired approximately 6,000 employees…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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