'I don't know if this is a genius move or a coward from one of the world's richest billionaires.'
Twitter Inc's new owner Elon Musk has denied allegations that he fired a large number of the company's employees before November 1 to avoid paying stock grants as compensation.
The issue came to light when a user posted a tweet saying Musk deliberately fired a large number of workers to avoid year-end compensation payments to affected employees.
Musk was seen responding to the tweet by saying the claim was untrue.
This is false
— Elon Musk (@elonmusk) October 30, 2022
This sparked a debate among internet users with a report from the New York Times clearly saying Musk began firing a large number of Twitter workers starting Friday, the day he officially bought the company.
However, some argue that Musk deliberately did so to avoid layoffs on November 1, which is the day when employees are scheduled to receive stock grants as compensation.
It is well known that once Musk took office at Twitter, Chief Executive Officer (CEO) Parag Agrawal and Chief Financial Officer (CFO) Ned Segal and Head of Policy and External Relations Vijaya Gadde were fired on Friday.
The reason for the dismissal of the 4 executives according to Musk is because they misinformed him and Twitter investors about fake accounts on the platform.
On the other hand, there are other sources who say Musk fired the executives 'for reasons' of preventing their shares from being placed as part of a change of control.
So far, Twitter has not commented further on the dismissals carried out or the compensation received by the employees.
