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Musk Wins Lawsuit Over $500 Million Severance Claim
Manage episode 428493249 series 3232624
Content provided by Stage Zero. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Stage Zero or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Elon Musk and X Corp. have won a lawsuit demanding $500 million in severance pay for former Twitter employees. The plaintiffs, including Twitter's former global head of compensation and benefits, claimed that about 6,000 laid-off employees received only one month's pay, contrary to promises made under the federal Employee Retirement Income Security Act (ERISA). However, US District Judge Trina Thompson ruled that the claims were not covered under ERISA, as employees were informed they would receive only cash payouts post-acquisition. This verdict allows Musk and X Corp. to avoid the additional $500 million payout sought by the plaintiffs.
796 episodes
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Manage episode 428493249 series 3232624
Content provided by Stage Zero. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Stage Zero or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Elon Musk and X Corp. have won a lawsuit demanding $500 million in severance pay for former Twitter employees. The plaintiffs, including Twitter's former global head of compensation and benefits, claimed that about 6,000 laid-off employees received only one month's pay, contrary to promises made under the federal Employee Retirement Income Security Act (ERISA). However, US District Judge Trina Thompson ruled that the claims were not covered under ERISA, as employees were informed they would receive only cash payouts post-acquisition. This verdict allows Musk and X Corp. to avoid the additional $500 million payout sought by the plaintiffs.
796 episodes
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Show notes are at https://stevelitchfield.com/sshow/chat.html
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