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Elon Musk’s X Corp Reaches Tentative $500M Settlement Over Twitter Layoffs
Elon Musk’s X Corp Reaches Tentative $500M Settlement Over Twitter Layoffs
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BTCCSquare news:
Elon Musk and X Corp have agreed to settle a $500 million lawsuit filed by former Twitter employees alleging unpaid severance. The deal, disclosed in a Wednesday court filing, WOULD resolve claims from approximately 6,000 workers terminated after Musk's 2022 acquisition. A federal judge dismissed the case in July 2024, but plaintiffs appealed to the 9th Circuit before the settlement emerged.
The lawsuit centered on Twitter's 2019 severance plan, which plaintiffs argued guaranteed payouts. While terms remain confidential, the agreement avoids a September 17 appellate hearing. This marks another chapter in Musk's contentious restructuring of the social media platform since its $44 billion takeover.
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