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X Corp. (formerly Twitter) and Elon Musk Win $500 Million Severance Lawsuit Over Mass Layoff
Jul 10, 2024, 03:15 AM
X Corp. (formerly Twitter) and its owner Elon Musk have officially won a lawsuit related to the severance pay for employees laid off following Musk's takeover of Twitter in 2022. The lawsuit alleged that Musk owed $500 million in severance pay to 6,000 former employees under the Employee Retirement Income Security Act (ERISA) rules, claiming they only received one month's severance. However, Judge Trina ruled in favor of Musk and X Corp., dismissing the claims. This lawsuit was one of several filed over the mass layoff of thousands of employees.
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