Former Twitter employees demand $500 million payout

TL;DR Breakdown

  • Twitter faces a lawsuit accusing it of failing to pay $500 million in severance to laid-off employees post-Elon Musk’s acquisition.
  • Courtney McMillian, ex-Twitter employee, leads the class-action suit, citing an unfulfilled 2019 severance plan.
  • Twitter reportedly offered laid-off employees only one month of severance pay or none at all, contrary to the mentioned plan.

Description

Social media giant, Twitter, finds itself in hot water after accusations emerged of a severance default to the tune of $500 million. The allegations come from a considerable group of its workforce, who saw their positions terminated following Elon Musk’s acquisition of the company. The alleged broken promise Courtney McMillian, the former overseer of Twitter’s … Read more

Social media giant, Twitter, finds itself in hot water after accusations emerged of a severance default to the tune of $500 million. The allegations come from a considerable group of its workforce, who saw their positions terminated following Elon Musk’s acquisition of the company.

The alleged broken promise

Courtney McMillian, the former overseer of Twitter’s employee benefits programs, also known as the “head of total rewards,” spearheads the clamor. She is among those who lost their jobs in January following the acquisition.

Subsequently, she has chosen to take the matter to the court, filing a proposed class-action suit in a San Francisco federal court. McMillian points to a 2019 company severance plan as the backbone of her allegations.

The plan, according to her, assured a significant part of the workforce two months of base pay and an additional week’s pay for each full year served at the company, in the event of a layoff. High-ranking employees like herself, she claims, stood to receive six months of base pay.

However, Twitter did not meet these stipulated provisions. As McMillian alleges, the social media giant only provided a maximum of one month’s severance pay to laid-off workers, with a considerable fraction receiving nothing at all.

Twitter’s response and legal backdrop

Following Musk’s takeover of the company in October, Twitter embarked on a mass workforce trimming exercise. It saw over half of the company’s employees lose their jobs as part of a cost-cutting measure.

In response to the lawsuit, Twitter’s now-absent media relations department served up an ambiguous poop emoji when asked for a comment. This isn’t the first time that the company is grappling with similar allegations.

The company has previously faced lawsuits for allegedly not paying severance, with the legal complaints being primarily focused on breach of contract.

Twitter maintains its stance that it has made full payments to its former employees, brushing off any suggestions of impropriety.

Last month saw the company under fire for supposedly neglecting to pay millions of dollars in bonuses to its remaining staff. Twitter, as usual, refutes these claims, asserting that they lack merit.

These legal disputes make up part of a series of lawsuits that Twitter has had to contend with since last year’s layoffs began. These cases, which include accusations of the company targeting women and disabled workers, continue to pile pressure on the embattled social media behemoth.

Twitter, however, has maintained a consistent line of defense, denying any wrongdoing in the lawsuits where it has made its responses. The unfolding case filed by McMillian paints a disturbing picture of an apparent default of a severance commitment.

It opens a new chapter in Twitter’s legal challenges, with the question being whether the company will rise above the accusation or buckle under the weight of a $500 million payout demand.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Former Twitter employees demand $500 million payout

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月14日 06:22
Next 2023年7月14日 07:48

Related articles

  • OneMintNFT users urged to stay cautious amid Discord compromise

    TL;DR Breakdown OneMintNFT Discord server has been compromised, according to a security alert issued by CertiK Alert. The alert strongly advises users to exercise caution and avoid any further engagement with the platform until official confirmation. The OneMintNFT team has not issued any official statement regarding the reported exploit. Description In a recent development, the OneMintNFT Discord server has been compromised, according to a security alert issued by CertiK Alert, a platform specializing in real-time alerts concerning crypto hacks, scams, and flashloans. The alert strongly advises users to exercise caution and avoid any further engagement with the platform until official confirmation from the OneMintNFT team … Read more In a recent development, the OneMintNFT Discord server has been compromised, according to a security alert issued by CertiK Alert, a platform specializing in real-time alerts concerning crypto hacks, scams, and flashloans. The alert strongly advises users to exercise caution and avoid any further engagement with the platform until official confirmation from the OneMintNFT team that they have successfully regained control of their Discord server. Security alert from CertiK Alert The security…

    Article 2023年9月17日
  • Gina Raimondo says U.S. still sees China as a friend

    Description In a world swamped by complex geopolitics and volatile economic shifts, it’s hard to decipher real intent. Yet, the recent visit by US Commerce Secretary Gina Raimondo to China sent a clear signal to all stakeholders: America continues to view China as a partner. However, being a partner doesn’t always mean smooth sailing. Raimondo’s call … Read more In a world swamped by complex geopolitics and volatile economic shifts, it’s hard to decipher real intent. Yet, the recent visit by US Commerce Secretary Gina Raimondo to China sent a clear signal to all stakeholders: America continues to view China as a partner. However, being a partner doesn’t always mean smooth sailing. Raimondo’s call to action Raimondo’s trip wasn’t just a mere formality. It marked the reopening of communication channels between the two superpowers. Despite this promising bridge-building, challenges persist. From intellectual property theft, state subsidies, to more contemporary issues like surprise office raids and murky data privacy laws, China’s business environment is not for the faint-hearted. Raimondo didn’t mince her words when she expressed concerns from the American business…

    Article 2023年8月30日
  • Hong Kong Is winning the battle for crypto dominance leaving the US  behind- Yat Siu

    TL;DR Breakdown Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing businesses away from the United States. The co-founder of Web3 investment firm Animoca Brands Yat Siu acknowledged that the United States should not be disregarded in the Web3 race but highlighted the regulatory uncertainty that many firms in the sector face, leading to a “regime of fear. Members of the Web3 task forces have entered into a two-year agreement with the Hong Kong government and will advise on strategies to drive industry growth. Description Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing businesses away from the United States. The city has been actively fostering the development of the Web3 space and enabling retail investment in cryptocurrencies. A notable step in this direction is the … Read more Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing…

    Article 2023年7月6日
  • Brazil unleashes new crypto taxes

    TL;DR Breakdown Reports from Brazil indicate that a congressional committee has greenlit revisions to a bill that formally designates cryptocurrencies as “financial assets” for taxation purposes in the context of overseas investments. Profits ranging between 6,000 and 50,000 reais (approximately $10,000) would be subject to a 15% tax rate, while amounts surpassing this threshold would incur taxes at a rate of 22.5%. These changes would specifically apply to cryptocurrency exchanges that lack a physical presence in Brazil. Description Brazilian legislators are making strides toward implementing new legislation that would heighten taxes on cryptocurrencies held outside the country. Reports from the nation indicate that a congressional committee has greenlit revisions to a bill that formally designates cryptocurrencies as “financial assets” for taxation purposes in the context of overseas investments. Furthermore, this proposed bill seeks … Read more Brazilian legislators are making strides toward implementing new legislation that would heighten taxes on cryptocurrencies held outside the country. Reports from the nation indicate that a congressional committee has greenlit revisions to a bill that formally designates cryptocurrencies as “financial assets” for taxation purposes…

    Article 2023年8月13日
  • China’s data laws under suspicion by the EU

    TL;DR Breakdown EU businesses are wary of China’s ambiguous data laws and lengthy processes. China’s expanded counter-espionage law remains undefined in crucial areas, causing uncertainty. President Xi Jinping’s focus on national security adds to the confusion for foreign firms. Description While the world eagerly watches for technological advancements and innovations, there’s an undercurrent of suspicion and uncertainty looming over global businesses. At the epicenter of this is China’s recent data legislation, casting shadows over its relations with the European Union. The ambiguity in these laws and their extensive processes have EU businesses rattled, unsure of … Read more While the world eagerly watches for technological advancements and innovations, there’s an undercurrent of suspicion and uncertainty looming over global businesses. At the epicenter of this is China’s recent data legislation, casting shadows over its relations with the European Union. The ambiguity in these laws and their extensive processes have EU businesses rattled, unsure of the boundaries they shouldn’t cross. The Ambiguity Quagmire: China’s Vague Data Landscape China’s enhanced counter-espionage law, introduced in July, seems to be more of a maze than…

    Article 2023年9月19日
TOP