Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Musk fired Twitter execs in attempt to avoid payouts, layoffs planned

by Index Investing News
October 30, 2022
in Stocks
Reading Time: 2 mins read
A A
0
Home Stocks
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: FILE PHOTO: Elon Musk’s account and the Twitter logo are seen in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) – Twitter’s new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday.

Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde on completion of a high-profile $44 billion buyout of the social media platform on Thursday, people familiar with the matter told Reuters.

He had accused them of misleading him and Twitter investors over the number of fake accounts on the platform. According to research firm Equilar, the executives stood to receive separation payouts totaling some $122 million.

Citing unidentified people familiar with the matter, The Information reported that Elon Musk terminated four top Twitter executives, including Agrawal and Segal “for cause,” in an apparent effort to avoid severance pay and unvested stock awards.

In a tweet on Saturday LightShed analyst Rich Greenfield said Musk fired top Twitter execs “for cause,” preventing their unvested stock from vesting as part of a change of control.

Twitter did not immediately responded to Reuters’ request for comment.

Reuters wasn’t immediately able to make contact with the fired executives.

Director of research at Equilar Courtney Yu told Reuters on Friday that the fired Twitter executives “should be getting these (severance) payments unless Elon Musk had cause for termination, with cause in these cases usually being that they broke the law or violated company policy.”

Meanwhile, The New York Times reported on Saturday that Musk has ordered job cuts across the company, with some teams to be trimmed more than others and layoffs would take place before Nov. 1 date, when employees were scheduled to receive stock grants as part of their compensation.

Citing unidentified people familiar with the matter, the Times reported the cuts could begin as soon as Saturday.



Source link

Tags: attemptAvoidexecsFiredlayoffsMuskpayoutsplannedTwitter
ShareTweetShareShare
Previous Post

Tom Hanks Appears With Jack Harlow In Pixar AA Sketch – Hollywood Life

Next Post

T.J. Watt out Week 8 vs. Eagles

Related Posts

THW: Revenue Traders Probably To Face A Large Distribution Minimize

THW: Revenue Traders Probably To Face A Large Distribution Minimize

by Index Investing News
May 25, 2025
0

This text was written byObserveTrapping Worth is a crew of analysts with over 40 years of mixed expertise producing choices...

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

by Index Investing News
May 25, 2025
0

This text was written byObserveVasily Zyryanov is a person investor and author.He makes use of numerous methods to seek out...

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

by Index Investing News
May 24, 2025
0

This text was written byObserveI'm an enthusiastic fairness analysis and funding analyst with a powerful curiosity in making use of...

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

by Index Investing News
May 23, 2025
0

Seagate Know-how Holdings plc (NASDAQ:STX) Seagate 2025 Investor and Analyst Convention Name Could 22, 2025 9:00 AM ET Firm Members...

2 BDCs That Qualify For The Retirement Earnings League

2 BDCs That Qualify For The Retirement Earnings League

by Index Investing News
May 23, 2025
0

This text was written byObserveRoberts Berzins has over a decade of expertise within the monetary administration serving to top-tier corporates...

Next Post
T.J. Watt out Week 8 vs. Eagles

T.J. Watt out Week 8 vs. Eagles

President Aoun leaves office as Lebanon’s crisis worsens By Reuters

President Aoun leaves office as Lebanon's crisis worsens By Reuters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Decaffeinated Brazilians blame Lula for surging price of morning brew

Decaffeinated Brazilians blame Lula for surging price of morning brew

February 23, 2025
The Single Most Dangerous Word in Investing

The Single Most Dangerous Word in Investing

November 30, 2022
High Dividend 50: Verizon Communications

High Dividend 50: Verizon Communications

January 5, 2023
5 Dividend Shares With Publicity To The AI Growth

5 Dividend Shares With Publicity To The AI Growth

February 25, 2025
Time-Saving Actual Property Accounting Ideas for New Traders

Time-Saving Actual Property Accounting Ideas for New Traders

August 13, 2022
Seattle Metropolis Council to think about altering ethics code for votes

Seattle Metropolis Council to think about altering ethics code for votes

May 2, 2025
London Movie Pageant Launches Video Video games Strand

London Movie Pageant Launches Video Video games Strand

August 22, 2024
Xi Jinping to ship top-level China envoy to Donald Trump’s inauguration

Xi Jinping to ship top-level China envoy to Donald Trump’s inauguration

January 9, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In