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Elon Musk likely faces multiple lawsuits as he revamps Twitter

Multiple lawsuits likely soon after Elon Musk hijacks Twitter
TWTR
Friday Inc. The first person in the queue could be from her one of her four executives (or possibly all four of her) who was fired shortly after the deal was completed.

CEO Parag Agrawal, CFO was well known,
CFO
Ned Segal, general counsel Sean Edgett and chief legal officer Vijaya Gadde are disliked by Musk and unlikely to survive the merger, Musk reports. If all are dismissed for “cause”, then legal wasp nests are opened.

Golden parachute contracts, severance pay, and even the value of management’s unvested stock options completely change the payment terms.

However, given the fact that Musk has only owned the company for a few days, the court justifies that Musk can be fired for good reason unless he can get some longtime key employees at the company. would be difficult to do. I didn’t live up to their job expectations.

Twitter is headquartered in California and is notorious for defending its employees in all kinds of labor disputes, so Musk has taken it upon himself to successfully argue that key executives meet the definition of “cause” for layoffs. You must present a personnel file that shows a pattern of underperformance.

With layoffs reported at a range of 75% of the company’s workforce, Musk has carefully selected those who may testify on his behalf that key executives have failed to meet performance targets. need to do it. .

Additionally, the massive Twitter layoffs reportedly involved thousands of people, who may have had their own disputes with Twitter management over the terms of their separation.

Yes, Musk is a billionaire. But whether he wants to face labor commissions and other venues that decide the fairness of payment terms to various employees remains to be seen. It will be a distraction.

https://www.forbes.com/sites/derekbaine/2022/10/30/elon-musk-likely-to-face-multiple-lawsuits-as-he-revamps-twitter/ Elon Musk likely faces multiple lawsuits as he revamps Twitter

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