How much compensation Elon Musk must pay for firing a series of senior leaders of Twitter?

Tram Ho

Billionaire Elon Musk successfully acquired Twitter for $44 billion after a few months of trying to pull out of the deal. According to Business Insider, currently, Mr. Musk is expected to reorganize the business and reduce the company’s staff.

Although the number of employees planned to be cut was not specified, Business Insider’s sources said that most of the employees fired were senior Twitter executives. On the evening of October 27, the CEO, CFO, and legal person were all fired.

 

Số tiền bồi thường mà Elon Musk phải trả vì sa thải một loạt lãnh đạo cấp cao của Twitter là bao nhiêu? - Ảnh 1.

The dismissal of Mr. Musk could bring these leaders a large amount of compensation. Under the terms of employment contracts for senior leaders, they will receive a certain amount of severance when Mr. Musk fires them.

Specifically, according to Insider, CEO Parag Agrawal will receive the largest amount of $ 38.7 million. Most of this money comes from all the shares he had before being fired.

Chief Financial Officer Ned Segal will receive a payout of $25.4 million.

Chief Legal Officer Vijaya Gadde will leave with $12.5 million. And Chief Customer Officer Sarah Personette will receive $11.2 million.

The total amount of money Elon Musk must compensate these leaders is nearly $88 million.

In the months before Elon Musk became Twitter’s new owner, the company’s top executives were mostly silent. In April 2022, when Agrawal tried to restrict this billionaire from some comments on the social network Twitter, Elon Musk quickly announced his intention to buy the company.

Reference: Business Insider

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