Monday, December 23
Shadow

Elon Musk Faces Legal Battles and Financial LOSSES Post-Twitter Takeover

Elon Musk Faces Legal Battles and Financial LOSSES Post-Twitter Takeover

In a legal showdown, Elon Musk faces backlash over his 2022 takeover of Twitter. After firing over 6,000 employees, including then-CEO Parag Agrawal, Musk became entangled in multiple lawsuits, including a claim for $500 million in severance promises. A recent ruling saw Musk victorious as Judge Thompson dismissed the case due to procedural notifications post-takeover. Twitter’s workforce has shrunk from 8,000 to 1,500 following Musk’s cost-cutting measures, yet X Corp. reported significant losses of $456 million in the first quarter of 2023. Additionally, Musk still faces lawsuits from Agrawal and other former executives seeking $128 million in severance, alongside claims from senior employees totaling over $1 million.

Follow us Online —- http://whatstrending.com
Facebook —- http://www.facebook.com/WhatsTrending
Instagram —- http://instagram.com/whatstrending
TikTok —- http://tiktok.com/whatstrending
Newsletter —- https://whatstrending.beehiiv.com/subscribe

#elonmusk #twitter #X #technews

Exit mobile version