Twitter chief Elon Musk takes job cuts to avoid stock grant rumors


Tesla, SpaceX CEO Elon Musk took to Twitter last week and was the first to sack top executives including CEO Parag Agarwal, CFO Ned Segal and head of legal policy, trust and security Vijaya Gadde. anymore, new York Times reported that Musk has reportedly ordered company-wide layoffs on Twitter. On this, Elon Musk has clarified that the information is absolutely wrong.

Elon Musk denies layoff rumors on Twitter

It was reported that Musk has asked managers on Twitter to prepare a list of employees, that too before November 1. Its purpose was expressly to prevent employees from receiving stock grants as part of their compensation.

Eric Umansky, Deputy Managing Editor publica recently shared new York Times Report with a caption, “Elon Musk is making sure to fire people on Twitter before part of his year-end compensation starts on Tuesday.

To this Musk replied in three words, “That’s wrong.” He did not provide any explanation about which part of the report or the caption he was denying.

Umasky’s tweet also included a screenshot of the NYT report, which specified that stock compensation makes up for a large portion of employee wages. However, if Musk fires people before November 1, he will refrain from giving grants to these employees.

for the unknown, NYT The report revealed that Musk is planning to lay off 75 percent of Twitter’s total workforce by the end of this month. However, after officially buying the company, Musk clarified that these numbers were not accurate.

After the acquisition, the new flagship is expected to bring a lot of changes, including expanding the tweet word count limit to 280 characters, charging $20 per month for verification, etc. He has also hinted that soon Twitter users will be able to choose a version of the microblogging platform they like better, such as moving maturity rankings.

Twitter head Elon Musk’s post on job cuts to avoid paying stock grants was first featured on BGR India.

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