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

  • Unpacking SpaceX Bitcoin 2021-2022 sales worth $373M

    TL;DR Breakdown Elon Musk disclosed SpaceX’s Bitcoin holdings in 2021 following an SEC filing revealing Tesla’s intention to acquire $1.5 billion worth of the crypto. Crypto scams with detailed attention to SpaceX and Elon Musk surge flooding the crypto markets – Be weary. Elon Musk takes a keen look at Vitalik Buterin’s detailed tech report on “Community Notes.” Buterin endorsed X’s “Community Notes” feature emphasizing its relevance and relationship to “crypto values.” Description SpaceX reportedly sold Bitcoin worth approximately $373 million that it acquired beginning in 2021. According to a Wall Street Journal report published on August 17, SpaceX recorded Bitcoin holdings worth $373 million on its balance sheet in 2021 and 2022 but has since sold the cryptocurrency.  According to documents viewed by the news organization, the … Read more SpaceX reportedly sold Bitcoin worth approximately $373 million that it acquired beginning in 2021. According to a Wall Street Journal report published on August 17, SpaceX recorded Bitcoin holdings worth $373 million on its balance sheet in 2021 and 2022 but has since sold the cryptocurrency.  According to documents…

    Article 2023年8月18日
  • Injective unveils inEVM, bridging the gap between Solana, Cosmos, and Ethereum

    TL;DR Breakdown Injective introduces inEVM, the first-ever Ethereum Virtual Machine (EVM) capable of achieving composability across Cosmos and Solana. The new platform promises Ethereum developers unmatched access to Injective’s global network, ultra-fast transaction speeds, and a smoother development experience. Description In an era where blockchain integration is more than a luxury—it’s a necessity, Injective steps up to the plate with a groundbreaking innovation. The company has recently unleashed its inEVM platform, designed as a masterstroke to bridge the once disparate worlds of Solana, Cosmos, and Ethereum. This ambitious endeavor is more than just a technical … Read more In an era where blockchain integration is more than a luxury—it’s a necessity, Injective steps up to the plate with a groundbreaking innovation. The company has recently unleashed its inEVM platform, designed as a masterstroke to bridge the once disparate worlds of Solana, Cosmos, and Ethereum. This ambitious endeavor is more than just a technical feat; it signifies a paradigm shift in how blockchains can interact, collaborate, and expand their horizons. As the lines between distinct blockchain networks blur, Injective inEVM emerges…

    Article 2023年9月20日
  • Venezuelan President calls for global de-dollarization amid BRICS summit

    TL;DR Breakdown Venezuelan President Nicolas Maduro calls for the de-dollarization of the global economy during the BRICS summit, advocating for alternative financial systems that use multiple national currencies. Maduro highlights the impact of U.S. sanctions on Venezuela and other countries, stating that at least 28% of the global population is affected by such “imperialist” measures. Despite Venezuela’s unsuccessful bid for BRICS membership, Maduro’s push for financial alternatives could align with BRICS countries’ own goals to reduce dollar dependence, potentially influencing future shifts in global financial systems. Description Venezuelan President Nicolas Maduro has urged for the de-dollarization of the global economy, citing the difficulties that the current dollar-dominated system imposes on emerging countries affected by U.S. sanctions. The call was made during Venezuela’s participation in the recent BRICS summit held in Johannesburg, South Africa. A push for financial independence Maduro’s message to the … Read more Venezuelan President Nicolas Maduro has urged for the de-dollarization of the global economy, citing the difficulties that the current dollar-dominated system imposes on emerging countries affected by U.S. sanctions. The call was made during Venezuela’s…

    Article 2023年8月29日
  • Dogecoin connection to be unveiled in Elon Musk’s upcoming biography

    TL;DR Breakdown Elon Musk’s forthcoming biography is set to reveal that he has been secretly funding the development of Dogecoin, confirming long-standing rumors about his involvement with the cryptocurrency. The biography will also detail Musk’s ambitious plans to launch a social media platform based on blockchain technology that would incorporate Dogecoin as a payment feature, potentially revolutionizing social media interactions. Description Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has long been a figure of intrigue and speculation, especially in cryptocurrencies. A forthcoming biography, set to be published later this month, is expected to shed new light on Musk’s involvement with Dogecoin (DOGE), the popular memecoin. According to a report by the Wall … Read more Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has long been a figure of intrigue and speculation, especially in cryptocurrencies. A forthcoming biography, set to be published later this month, is expected to shed new light on Musk’s involvement with Dogecoin (DOGE), the popular memecoin. According to a report by the Wall Street Journal, the biography will reveal…

    Article 2023年9月3日
  • China slows down – Asian economies feel the impact

    Description There’s a whispering unease in Asia’s economic corridors. It’s not the wind; it’s the economic chill emanating from China’s downturn. With a decelerating growth rate, China, the juggernaut of the global economy, is sending shivers down the spines of its neighboring countries, notably those deeply embedded within its commercial web. South Korea’s Tech Woes: A … Read more There’s a whispering unease in Asia’s economic corridors. It’s not the wind; it’s the economic chill emanating from China’s downturn. With a decelerating growth rate, China, the juggernaut of the global economy, is sending shivers down the spines of its neighboring countries, notably those deeply embedded within its commercial web. South Korea’s Tech Woes: A Warning Signal for Asia South Korea’s economic pulse often serves as a diagnostic tool for the health of Asia’s technological realm. Regrettably, the prognosis isn’t promising. This tech powerhouse has seen its exports plummet, witnessing the most significant dip in over three years. The reasons? A decreased demand for computer chips from China. If that weren’t alarming enough, factory activity has dwindled for an unsettling 14…

    Article 2023年9月4日
TOP