A special treat for Elon: 2,200 cases for not paying severance
www.motherjones.com
X is not, in fact, gonna give it to ya.

Elon Musk’s alleged penchant for not paying bills is catching up with him. In the wake of numerous lawsuits claiming the world’s richest man failed to pay severance owed to many of the 6,000 employees he fired after acquiring Twitter. On Monday, CNBC reported that the tech company now known as X is facing some 2,200 arbitration cases filed by ex-employees, which come with $3.5 million in required fees—an amount that doesn’t even include the actual severance owed to those Musk let go.

In October, shortly after taking Twitter’s reins, Musk laid off more than half of its employees, promising most at least two months’ salary plus a week’s pay for every year they’d worked at the firm. Thousands claim that they haven’t received a single dime, and ex-employees have since filed several lawsuits seeking their promised benefits.

    • @audiomodder@lemmy.blahaj.zoneEnglish
      6•10 months ago

      Well, minimum 2 months per employee plus the 4 weeks. Let’s figure an average salary of $80k. 6000 employees with an average tenure of 4 years. Let’s go ahead and round that to 3 months salary. So he’s paying the equivalent of 1500 employee’s average salary. That works out to about $120m.

      I think my salary estimate is low there, and I have no idea what the tenure of the employees would be. Either way, not a small sum for a company that’s barely treading water.

      • The Giant KoreanEnglish
        8•10 months ago

        I am gyessing that engineers at Twitter were probably making around $150k per year, give or take.

      • ripcord
        2•10 months ago

        $80k/year*.25year*2200 = $44m in this case, though like you said your salary estimate is probably low

        • AreaSIX
          1•10 months ago

          1500 = 6000 employees multiplied by 0.25 already. No need to multiply with .25 again.

    • @WarmSoda@lemm.ee
      3•10 months ago

      I could be mistaken, but I think the severance was three months when he bought the company.

          • @lobut@lemmy.ca
            3•10 months ago

            Yeah this mofo is sitting on mountains of cash and like Trump, he just doesn’t pay his bills.

    • @dmonzel@lemmy.world
      -1•10 months ago

      Literally the post:

      … X is facing some 2,200 arbitration cases filed by ex-employees, which come with $3.5 million in required fees-an amount that doesn’t even include the actual severance owed to those Musk let go.