<\/p>\n
Elon Musk, Chief Twit, has refuted claims from a New York Times report this weekend that states he plans to lay off employees before Tuesday, November 1, thus cutting staff off from receiving stock grants as part of their compensation.<\/p>\n
In response to a tweet from Eric Umansky, deputy managing editor of ProPublica, that said Musk was \u201cmaking sure to fire people at Twitter before part of their year-end compensation kicks in on Tuesday,\u201d Musk said: \u201cThis is false.\u201d He didn\u2019t provide any clarification about what, specifically, was false.<\/p>\n
Umansky\u2019s tweet included a screenshot of a highlighted portion of the NYT story that also noted stock grants make up a significant portion of an employee\u2019s pay, and by laying off workers before that date, Musk may avoid paying the grants.<\/p>\n
Musk did not respond to \u2019s request for clarification on whether the layoffs will affect stock compensation. He may very well have been refuting the entire NYT article, which stated Musk is said to have ordered job cuts across the company, citing \u201cfour people with knowledge of the matter.\u201d But that seems unlikely, given the layoffs that are already underway.<\/p>\n
Previous reports said Musk would layoff 75% of Twitter\u2019s staff, but last week when the executive visited Twitter headquarters, he said those numbers weren\u2019t correct. Still, reports have been surfacing about various layoffs at the social media company, including of top Twitter executives like CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Head of Legal Policy, Trust and Safety Vijaya Gadde.<\/p>\n
Musk\u2019s $44 billion deal to purchase Twitter went through late on Thursday last week. The New York Stock Exchange stopped trading Twitter\u2019s stock on Friday morning, where it had been listed since 2013. Twitter will officially be delisted from the stock exchange on November 8.<\/p>\n
Current shareholders will be paid $54.20, Musks\u2019s buying price, per share. It\u2019s not clear how Twitter\u2019s now-private status will affect current employees with stock grants.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Elon Musk, Chief Twit, has refuted claims from a New York Times report this weekend that states he plans to lay off employees before Tuesday, November 1, thus cutting staff off from receiving stock grants as part of their compensation. In response to a tweet from Eric Umansky, deputy managing editor of ProPublica, that said […]<\/p>\n","protected":false},"author":1,"featured_media":1239018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1239016","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1239016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1239016"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1239016\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1239016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1239016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1239016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}