Elon Musk, Chief Twit, is taking drawback with reporting in a New York Times story this weekend that states he plans to place off employees sooner than Tuesday, November 1, thus slicing employees off from receiving stock grants as part of their compensation.
In response to a tweet from Eric Umansky, deputy managing editor of ProPublica, that talked about Musk was “guaranteeing to hearth people at Twitter sooner than part of their year-end compensation kicks in on Tuesday,” Musk talked about: “That’s false.” He didn’t current any clarification about what, notably, was false.
Umansky’s tweet included a screenshot of a highlighted portion of the NYT story that moreover well-known stock grants make up a very good portion of an employee’s pay, and by shedding workers sooner than that date, Musk would possibly stay away from paying the grants. Musk didn’t reply to ’s request for clarification on whether or not or not the layoffs will impact stock compensation.
Earlier research talked about Musk would lay off 75% of Twitter’s staff, nevertheless last week when the supervisor visited Twitter headquarters, he talked about those numbers weren’t correct. Nonetheless, research have been surfacing about diverse layoffs on the social media agency, along with of top Twitter executives like CEO Parag Agrawal, CFO Ned Segal, Fundamental Counsel Sean Edgett and Head of Licensed Protection, Perception and Safety Vijaya Gadde.
Musk’s $44 billion deal to purchase Twitter glided by late on Thursday last week. The New York Stock Commerce stopped shopping for and promoting Twitter’s stock on Friday morning, the place it had been listed since 2013. Twitter will formally be delisted from the stock commerce on November 8.
Current shareholders will be paid $54.20, Musks’s purchasing for worth, per share. It’s not clear how Twitter’s now-private standing will impact current employees with stock grants.
