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on October 31. It was previously reported that Elon Musk, the new boss of Twitter, would start downsizing before November 1 in order to avoid granting stock incentives to employees. On Sunday, Musk tweeted in response to a Twitter user's question about the report, saying: "This is false."

It was reported on Saturday that Musk had ordered layoffs in the whole company before November 1, and some of the teams would have larger layoffs. The report also emphasized that November 1 was the time when Twitter granted shares to some laid-off employees, which "usually accounted for a large part of their salaries". According to the report, Musk may not have to grant these shares to employees because of the layoff before that. At that time, the report quoted anonymous insiders as saying that layoffs could be initiated as early as Saturday

On Sunday, Twitter users asked Musk whether they would decide to lay off employees before paying some year-end bonuses to some Twitter employees on Tuesday. Musk responded, "This is false."

On Thursday, after Musk completed the $44 billion acquisition of Twitter, he immediately fired Twitter CEO Parag Agrawal, CFO Ned Segal, and legal affairs and policy director Vijaya Gadde

Musk accused these company executives of misleading him and other Twitter investors in terms of the number of false accounts on the platform. According to data from Equilar, the research company, these executives could have received a total of about $122 million in severance compensation

Musk fired four Twitter executives, including Agrawal and Siegel, "for a certain reason", apparently to avoid paying severance pay and granting more shares

Last Saturday, Rich Greenfield, an analyst at LightShed, an investment bank, said on Twitter that Musk's dismissal of Twitter executives was "for a reason". As part of the change of control, Musk can no longer grant shares to these senior officials

Courtney Yu, research director of Equilar, a market research company, said on Friday that the dismissed executives "should have received these (severance pay) unless Musk has a reason for dismissal. In this case, the reason is usually that they violated the law or the company's policies." (Chen Chen)

2023-03-22 10:04:54