Elon Musk Fired Twitter Execs To Avoid Paying Severance

According to The Information, Elon Musk sacked senior Twitter executives "for cause" in order to avoid paying severance.

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On Thursday, Musk fired Sean Edgett, the general counsel, Parag Agrawal, the CEO of Twitter, Ned Segal, the chief financial officer, and Vijaya Gadde, the head of legal.

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According to the source, Musk fired the executives "for cause" in an effort to avoid having to pay out severance and cash out unvested stock awards, based on legal reasons for termination.

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With Agrawal slated to get $38.7 million, the former executives were eligible for rewards totaling over $90 million.

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New owner of Twitter, who is listed as the company's CEO in internal documents. Musk, though, disputed that he intended to fire 75% of the Twitter employees.

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Due to a deadline of November 1 for employees to obtain stock grants as part of their remuneration, Musk is anticipated to shortly announce further layoffs.

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Elon Musk Fired Twitter Execs To Avoid Paying Severance

According to The Information, Elon Musk sacked senior Twitter executives "for cause" in order to avoid paying severance.

- Lorem Ipsum

On Thursday, Musk fired Sean Edgett, the general counsel, Parag Agrawal, the CEO of Twitter, Ned Segal, the chief financial officer, and Vijaya Gadde, the head of legal.

- Lorem Ipsum

According to the source, Musk fired the executives "for cause" in an effort to avoid having to pay out severance and cash out unvested stock awards, based on legal reasons for termination.

- Lorem Ipsum

With Agrawal slated to get $38.7 million, the former executives were eligible for rewards totaling over $90 million.

- Lorem Ipsum

New owner of Twitter, who is listed as the company's CEO in internal documents. Musk, though, disputed that he intended to fire 75% of the Twitter employees.

- Lorem Ipsum

Due to a deadline of November 1 for employees to obtain stock grants as part of their remuneration, Musk is anticipated to shortly announce further layoffs.

- Lorem Ipsum

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