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☆ Elon Musk apologized for 'incorrectly low' Tesla severance packages
▼ + stars: | 2024-04-18 | by ( Jyoti Mann | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk apologized Wednesday to laid-off Tesla employees for incorrect severance packages. Some workers previously told Business Insider they were offered two months' pay as severance. AdvertisementElon Musk apologized in an email to some laid-off Tesla employees after their severance packages were found to be "incorrectly low," according to a screenshot of the email viewed by Business Insider. "As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low," Musk said in the brief email sent Wednesday. Other workers told BI that as of Wednesday night, they'd yet to receive any information about severance packages.

Persons: Elon Musk, —, Musk, they'd, Tesla, Drew Baglino, who'd, he'd, Rohan Patel, They're, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett Organizations: Service, Business, CNBC, Worker, Twitter Locations: China

☆ Former Twitter execs sue Elon Musk over severance payments
▼ + stars: | 2024-03-04 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —A group of former Twitter executives sued Elon Musk on Monday in a bid to recover more than $128 million in severance that they allege Musk has not paid since he acquired the company, now called X, more than a year ago. The executives include former Twitter CEO Parag Agrawal, former CFO Ned Segal, former Chief Legal Officer Vijaya Gadde and former General Counsel Sean Edgett — all of whom were fired within hours after Musk took control of Twitter. Monday’s lawsuit is just the latest legal action brought by former Twitter employees related to Musk’s acquisition. The company has also been accused of failing to pay annual bonuses to employees laid off after Musk’s takeover. Musk and X have also faced lawsuits from vendors, landlords and business partners who claim the company has failed to pay what they are owed.

Persons: Elon Musk, Musk, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett —, “, ”, Agrawal, Gadde, Segal Organizations: New, New York CNN, Twitter, Court, Northern, Northern District of Locations: New York, Northern District, Northern District of California, Delaware

☆ Former Twitter execs say Elon Musk still owes them $128 million in severance
▼ + stars: | 2024-03-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Four former Twitter execs, including ex-CEO Parag Agrawal, are suing Elon Musk over their severance. Musk has previously said he fired the execs for cause and doesn't owe severance. AdvertisementFour former Twitter lieutenants who were fired following Elon Musk's 2022 takeover are now suing him, claiming unpaid severance. They are collectively asking for $128 million, according to the federal lawsuit filed Monday in California obtained by Business Insider. This isn't the only severance-related suit Musk and X have faced.

Persons: Parag Agrawal, Elon Musk, Musk, —, Elon Musk's, Ned Segal, Vijaya Gadde, Sean Edgett, Agrawal, Segal, Gadde, Walter Isaacson, I've Organizations: Twitter, Service, Business, Wall Street, Elon, Reuters Locations: California

☆ Former Twitter execs sue Musk and X for more than $128 million in severance
▼ + stars: | 2024-03-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Former Twitter executives including CEO Parag Agrawal, Chief Financial Officer Ned Segal, head of legal Vijaya Gadde and General Counsel Sean Edgett filed a new lawsuit against Elon Musk and X Corp. in federal court arguing that they are owed $128 million in unpaid severance. The ex-Twitter executives' lawyers argue, "These statements were not the mere rantings of a self-centered billionaire surrounded by enablers unwilling to confront him with the legal consequences of his own choices. Musk bragged to Isaacson specifically how he planned to cheat Twitter's executives out of their severance benefits in order to save himself $200 million." The suit, Agrawal et al v. Musk et al, was filed in California's Northern District and follows news that settlement talks between X Corp. and ex-Twitter managers broke down in a related case in Delaware, Woodfield v. Twitter Inc., where $500 million in unpaid severance to former Twitter managers and engineers is in dispute. Representatives for X Corp. and Elon Musk did not immediately respond to CNBC's request for comment.

Persons: Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett, Elon Musk, Musk, Walter Isaacson, Isaacson, Agrawal Organizations: Twitter, Elon, X Corp, Twitter Inc Locations: Delaware

☆ Former Twitter Executives Sue Elon Musk for $128 Million
▼ + stars: | 2024-03-04 | by ( Kate Conger | More About Kate Conger | ) www.nytimes.com time to read: +1 min

Four former Twitter executives sued Elon Musk on Monday, accusing the billionaire of withholding severance payments worth $128 million after he fired them from the company during his 2022 takeover. When Mr. Musk bought Twitter for $44 billion, he fired Parag Agrawal, its chief executive; Ned Segal, its chief financial officer; Vijaya Gadde, its head of legal and policy; and Sean Edgett, its general counsel. Mr. Musk later renamed the company X. In the event of an involuntary termination, Mr. Agrawal was entitled to a so-called golden parachute payment of $60 million, according to a Twitter securities filing. Under those same circumstances, Mr. Segal would receive $46 million and Ms. Gadde $21 million, according to the filing.

Persons: Elon Musk, Musk, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett, Agrawal, Segal, Gadde Organizations: Twitter, Northern, Northern District of Locations: U.S, Northern District, Northern District of California

☆ Inside Twitter's first-ever company retreat: Jack Dorsey's parents posed for selfies, Elon Musk was a no-show, and employees meditated with the billionaire founder
▼ + stars: | 2024-02-15 | by ( Kurt Wagner | ) www.businessinsider.com time to read: +11 min

Jack Dorsey once led a Twitter company retreat to boost employee morale and set a vision for the company. Had Dorsey opened his eyes, he would have seen nearly all of Twitter's 3,500 employees facing him in their own noiseless trance. From the convention center floor where they all sat looking up at the stage, Dorsey was just a silhouette, like a statue of a skinny Buddha. It was July 31, 2018, the first day of #OneTeam, Twitter's first-ever company-wide retreat. "BATTLE FOR THE BIRD: Jack Dorsey, Elon Musk, and the $44 Billion Fight for Twitter's Soul" by Kurt Wagner.

Persons: Jack Dorsey, Elon Musk, Kurt Wagner, —, Dorsey, Twitter's, Marcia, Louis, Jay Rock, Getty Dorsey, Twitter, Leslie Berland, She'd, coaxing Dorsey, unapproachable, wasn't, humanize Dorsey, Tim, Bruce Falck, Ned Segal, JP Maheu, Del Harvey, I'm, Elon, hadn't, Lucy Nicholson, Musk, Simon Organizations: Service, Moscone Center, Twitter, Employees, American Express, Trust, Safety, Simon & Schuster, Bloomberg Locations: San Francisco's, San Francisco, St, @Twitter

☆ US regulator probes Twitter security lapse before Musk took over - Bloomberg News
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 10 (Reuters) - The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. Musk renamed the social media platform as X following the acquisition. Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Jack Dorsey, Ned Segal, Parag Agrawal, Musk, Chavi Mehta, Shailesh Kuber, Shounak Organizations: Twitter, REUTERS, Bloomberg News, SEC, Thomson Locations: U.S, Bengaluru

☆ Elon Musk met then-Twitter CEO Parag Agrawal for a secret dinner in 2022 and said Agrawal was not the 'fire-breathing dragon' the platform needed
▼ + stars: | 2023-09-01 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Elon Musk and then-Twitter CEO Parag Agrawal got dinner together in March 2022. Musk came away from the meeting describing Agrawal as a nice guy, but not the "fire-breathing dragon" Twitter needed. After the meeting, Musk said Agrawal was a "really nice guy." Messages between Musk and Agrawal were released in September 2022 as part of a lawsuit Twitter filed against Musk in July 2022. "Great dinner :)," Musk responded.

Persons: Elon Musk, Parag Agrawal, Musk, Agrawal, Walter Isaacson's, Elon, Walter Isaacson, Isaacson, Twitter's, Bret Taylor —, Ned Segal, Vijaya Gadde Organizations: Twitter, Street Journal, Musk Locations: Musk's

☆ Did Elon Musk buy Twitter? Inside the unexpected acquisition of the social media platform
▼ + stars: | 2023-07-22 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +2 min

Elon Musk officially reached a deal to buy social media platform Twitter. The billionaire took the company private by paying $54.20 per share, paying about $44 billion in total. In October 2022, billionaire Elon Musk completed a deal to acquire social media platform Twitter for $44 billion after a wild six months. But on April 25, Twitter said it would agree to be acquired by Musk for $44 billion. As a result of the new deal, Twitter's lawsuit against Musk over the $44 billion purchase came to an end.

Persons: Elon Musk, Musk, Twitter, he'd, Parag Agrawal, Ned Segal Organizations: Morning, Twitter

☆ Former and current employees sue Twitter, accusing execs of failing to pay 'tens of millions of dollars' in bonuses
▼ + stars: | 2023-06-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Executives repeatedly promised employees the bonuses would be paid out, the suit alleged. This time the lawsuit is a class-action filed by Mark Schobinger on behalf of himself and other current and former Twitter employees. The lawsuit alleged employees were not paid a proportion of their 2022 bonuses, despite repeated promises from top executives. In a statement shared with AP an attorney for the plaintiffs, Shannon Liss-Riordan said the bonuses Twitter owed amounted to "tens of millions of dollars." One former executive said, however, that he and other Twitter employees had been harassed over the release of the files.

Persons: Mark Schobinger, Ned Segal, Schobinger, Elon Musk, Shannon Liss, Riordan, Musk Organizations: Twitter, Elon, AP

☆ Twitter's former top execs, fired by Elon Musk on his first day in charge, are suing the company for $1 million in unpaid bills
▼ + stars: | 2023-04-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Twitter's former CEO, CFO, and chief legal officer are suing Twitter for over $1 million. They claim they had agreements with the company that it would reimburse any legal fees they incurred. The company took two months to acknowledge their demands and still won't pay, the suit alleges. The suit claims the two ex-execs racked up legal fees to deal with these cases and comply with various demands. The trio's action against Twitter follows several others alleging that the company has failed to pay bills since Musk took over the company last October.

☆ Former Twitter executives sue company to recover over $1 million in legal fees
▼ + stars: | 2023-04-11 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

The complaint also describes legal fees linked to probes by the Securities and Exchange Commission and the Justice Department, though without disclosing many specifics of the investigations. Agrawal continued to field requests through the fall and after he stepped down from Twitter, according to the complaint. And late last year, it said, the Justice Department contacted Agrawal and Segal’s attorneys about multiple investigations into Twitter. Letters to Twitter seeking reimbursement for the legal expenses were ignored for months, according to the complaint. As of Monday, the executives still have not recovered the fees, the complaint said.

Elon Musk announced that he would step down as the CEO of Twitter. "Should I step down as head of Twitter?," Musk tweeted on Sunday afternoon. The search was already ongoing before Musk's poll on whether he would step down, CNBC reported, citing unnamed sources. Musk's search for a new Twitter CEO comes amid criticisms and concerns from Tesla shareholders and analysts that he is spreading himself too thin. Musk is also the CEO of Tesla, which share price has fallen 61% this year so far.

☆ A lawyer representing 100 ex-Twitter staff says the company's conduct has been 'incredibly egregious' since Elon Musk took over
▼ + stars: | 2022-12-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A lawyer filed demands for arbitration on behalf of 100 Twitter employees who lost their jobs. Since Elon Musk took over, Twitter's conduct has been "incredibly egregious," Shannon Liss-Riordan said. She added that this was just the "first wave" of arbitration demands against the company. She added that this was just the "first wave" of arbitration demands against the company. The next week Musk started laying off staff, with around half of the company's 7,500-strong workforce being cut.

☆ Twitter has lost its last deputy general counsel as its legal team shrinks, a report says
▼ + stars: | 2022-12-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter deputy general counsel Regina Lima has left the company, Bloomberg Law reported. The social-media platform's legal team, which once stood at close to 200, is now largely depleted. Before Elon Musk took control of Twitter in late October, the company had around 200 staff on its legal team, according to Bloomberg Law. Twitter's legal team was shaken up as soon as Musk's purchase of Twitter went through. After Gadde and Edgett's terminations, James Baker, a former FBI general counsel, was the company's most senior lawyer.

☆ Elon Musk told ex-Twitter CEO Jack Dorsey 'almost no one was working on child safety' when he took over
▼ + stars: | 2022-12-10 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk tweeted it was a "crime" child safety wasn't prioritized at Twitter before he took over. Former Twitter CEO Jack Dorsey responded via Twitter that Musk's claim was "false". Musk doubled down and added it was his "top priority" with new trust and safety chief Ella Erwin. Dorsey responded that Musk's claim was "false." Musk contradicted Dorsey and said: "When Ella Irwin, who now runs Trust & Safety, joined Twitter earlier this year, almost no one was working on child safety."

☆ Elon Musk confirmed the firing of Twitter deputy general counsel James Baker for allegedly interfering in the publication of the Twitter Files
▼ + stars: | 2022-12-06 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Elon Musk confirmed the firing of another high-ranking Twitter official: deputy general counsel James Baker. Musk accused Baker of possibly playing a role in suppressing "information important to the public dialogue." Matt Taibbi, who tweeted Friday's "Twitter Files" thread, accused Baker of secretly vetting the files. Taibbi has promised to reveal additional "Twitter Files" material in conjunction with journalist Bari Weiss, a former op-ed writer for The New York Times. Baker's firing comes a little more than one month since Musk took over as the new owner of Twitter.

☆ Twitter's former C-suite received $200 million in combined stock payouts after Elon Musk fired them
▼ + stars: | 2022-12-05 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

CEO Elon Musk quickly fired Twitter executives upon taking over the company in October. The Twitter executives who were immediately fired when Elon Musk took over the company walked away with much larger bank accounts. He walked away from Twitter with a total of $63 million in converted stock. Gadde held just over 1 million shares in common stock when she was fired, having worked there for more than 11 years, which converted to $59.5 million. Gadde walked away from Twitter with the most money, seeing all of her converted stock total $72 million.

☆ Elon Musk says Twitter is recruiting just weeks after laying off half the company's staff
▼ + stars: | 2022-11-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk shared slides from a Twitter company presentation online. Since Musk bought Twitter, its workforce has shrunk by around three quarters through layoffs, resignations, and firings. The next week Musk started laying off staff, with around half of the company's workforce being cut. But two days later, on Wednesday night, several dozen more Twitter workers – mostly engineers – were fired for performance reasons. The slide from Musk's presentation to company staff doesn't say which roles the company is hiring for.

☆ Elon Musk's 2-year-old son ran around Twitter's office and played with toys while his dad talked to advisors about moderation, report says
▼ + stars: | 2022-11-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk's son X Æ a-Xii was present during Twitter meetings after the purchase went through, WaPo reported. Two-year-old X Æ a-Xii, Musk's first child with Grimes, ran round while he met with Yoel Roth, per WaPo. The Post reported that toys were scattered round the room and X Æ a-Xii ran around. X Æ a-Xii may have been at Twitter's HQ to attend the office Halloween party that day, where some staff brought their children. X Æ a-Xii, who he had with his musician and ex-partner Grimes, was Musk's seventh child.

☆ Elon Musk's 'hardcore' work ultimatum was a deliberate plan to push Twitter employees out after he was warned against cutting more than 50% of staff
▼ + stars: | 2022-11-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Elon Musk laid off half of Twitter's staff. But he agreed to laying off just 50% to start with after he was advised again making bigger cuts, Platformer reported, citing sources familiar with the matter. Instead, he sent staff a now-infamous email telling them to commit to "hardcore" work as a deliberate ploy to push more employees to leave, Platformer reported. Immediately after taking control of Twitter, Musk fired some key execs including CEO Parag Agrawal and CFO Ned Segal. Some staff who committed to Musk's "hardcore" Twitter, meanwhile, were laid off by the company, Platformer and Bloomberg reported.

☆ I'm still at Twitter and have a front-row seat watching everything fall apart. At this point, I'm just trying to collect a paycheck.
▼ + stars: | 2022-11-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +7 min

From the week leading up to Elon Musk's acquisition to the lay-offs week and this week gone, it's been a very weird and tiring time. It happened to be the same day that the Twitter offices were holding big Halloween events and had it decorated. Remote work was a big cultural hitA lot of people work remotely full-time or for at least two days a week. I'm sitting around and just collecting my paycheckI'm now interviewing around and trying to find something with big players. The Twitter that we had as an employer is gone and it won't be a fun place to work.

☆ Elon Musk failed to give laid-off Twitter employees previously promised severance packages, lawsuit alleges
▼ + stars: | 2022-11-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Laid-off Twitter employees are suing the company saying they were promised a range of severance benefits. The lawsuit says they were assured these benefits would hold after Elon Musk bought Twitter. However, recently laid-off employees say Twitter reneged on the promised severance pay. Twitter employees "reasonably relied" on this promise in the weeks leading up to Musk's purchase and chose not to look for jobs elsewhere, the lawsuit shows. This claim appears to contrast a November 4 tweet from Musk, which said that all exited employees were offered three months' severance.

☆ Who would want to join Twitter now? It's still hiring for more than 90 roles despite cutting thousands of jobs
▼ + stars: | 2022-11-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Twitter is still hiring to fill more than 90 roles despite laying off half of its workforce. Seven roles were posted on LinkedIn's jobs section a few days before Elon Musk took over Twitter. Seven roles were first advertised by Twitter a fortnight ago on LinkedIn, all of which are based in London. The Tesla founder took control over Twitter last week after his $44 billion deal to buy the platform was completed. Some Twitter staff have disputed that claim.

☆ Elon Musk ruthlessly fired Twitter CEO Parag Agrawal. He's the latest in a long line of Silicon Valley giants to face Musk's wrath, from Jeff Bezos to Mark Zuckerberg.
▼ + stars: | 2022-11-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Parag AgrawalKevin Dietsch/Getty ImagesMusk and Twitter CEO Parag Agrawal met for a meal in March. But eight months later, Musk took ownership of Twitter and one of his first moves was firing Agrawal and a number of other top execs. Musk had been set to join Twitter's board in the spring after becoming the company's biggest shareholder. Agrawal understandably didn't like the tweet and told Musk that "it's not helping me make Twitter better in the current context." Within days of Musk terminating the deal, Twitter sued him to force him to complete the deal, accusing him of "refusing to honor his obligations."

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