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Musk Wants to Blow Up Fired Execs’ Golden Parachutes: NYT

He terminated them for cause, putting fat severance packages at risk.

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Elon Musk fired top Twitter executives “for cause” after taking over, putting their gargantuan severance packages in jeopardy. The New York Times reports that the C-suite bigwigs, including CEO Parag Agrawal, were supposed to get payouts between $20 million to $60 million under the merger agreement. But Musk’s claim he was justified in showing them the door could allow him to argue the agreement is void and let him escape paying the big bucks. Meanwhile, the Times also reports that an investor who helped Musk buy Twitter was told up to 50 percent of Twitter’s 7,500 employees could be laid off.

Read it at The New York Times

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