article thumbnail

Elon Musk Files To Back Out Of Twitter Deal, Leading To A Legal Showdown

Allwork

Just days ago, Elon Musk made a move that likely did not come as a shock to anyone: he filed to back out of his Twitter acquisition deal. . While his attempt to cancel the deal is expected to rev up legal drama between the social media platform and the billionaire, Twitter employees are feeling defeated. .

Legal 246
article thumbnail

U.S. Unemployment Filings Remain High

Allwork

What’s going on: The Labor Department reported on Thursday that the first-time filings for unemployment benefits were 264,000 last week, according to Associated Press. Unemployment Filings Remain High appeared first on Allwork.Space.

Filing 263
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Twitter Faces Lawsuit Over Millions in Unpaid Bonuses

Allwork

What’s going on: Twitter is facing a lawsuit filed by its former senior director of compensation, Mark Schobinger, who claims the company failed to pay millions of dollars in promised bonuses to workers, according to Reuters. Twitter is one of the large tech companies that underwent massive layoffs this year.

Twitter 245
article thumbnail

Twitter Faces Second $500M Lawsuit Over Severance Pay Amidst Allegations of Age Discrimination

Allwork

What’s going on: Twitter Inc. The news follows the 2022 acquisition of the social media giant by Elon Musk. The class action suit was filed in Delaware federal court by Chris Woodfield, a former senior engineer at Twitter, who alleges that the company specifically targeted older workers for layoffs.

Twitter 246
article thumbnail

Can The World’s Richest Person Actually Afford Twitter?

Allwork

The most recent of these acquisitions has been Elon Musk’s purchase of Twitter for $44 billion, but how he does so is still up for debate. . Musk is currently the world’s richest person but has brought together nine banks to help finance his purchase of Twitter. The post Can The World’s Richest Person Actually Afford Twitter?

Twitter 246
article thumbnail

Elon Musk Says “Twitter Deal Temporarily On Hold”

Allwork

Elon Musk has revealed that he is pausing his Twitter acquisition to further investigate the number of spam accounts on the platform. . Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted. .

Twitter 246
article thumbnail

Elon Musk Agrees To Buy Twitter For Original Price

Allwork

As of yesterday, Tesla CEO Elon Musk has agreed to move forward with his $44 billion deal to buy social media app Twitter. . After the news was announced, shares of Twitter surged and rose to more than 12.7% Twitter filed a lawsuit against him just four days later. . before being stopped due to volatility.

Twitter 130