FinPol Digest

Elon Musk, the new CEO of Twitter, has been struggling after buying Twitter. Now, the laid-off Twitter workers are seeking severance pay. Will Musk give them severance pay? After taking over Twitter in October 2022, Musk laid off many workers, including the top executives of the social media company. Those employees are still awaiting details of their severance packages. Musk laid off over 7,000 employees in November 2022. Reportedly, around 1,000 of the workers who were terminated lived in California, a western U.S. state. According to California law, the employees are eligible to keep receiving regular paychecks. Those employees were seeking severance pay over the past two months. The 60-day period ended on Wednesday. However, those employees did not get any details about additional severance or continuation of health coverage, known as COBRA (Consolidated Omnibus Budget Reconciliation Act). Twitter has been gripped by multiple lawsuits over unpaid bills, including for private chart...

Social media giant, Twitter, has been sued after its new CEO (Chief Executive Officer), Elon Musk, failed to pay rent for Twitter’s San Francisco office. The landlord of the Hartford Building -- Columbia Reit - 650 California LLC filed a lawsuit against Twitter as Musk did not pay a rent of $136,260 for the San Francisco office. Twitter currently occupies the 30th floor of the Hartford Building. According to the court filings, Twitter signed a seven-year lease for the office space in 2017. According to CBS news, Twitter did not pay the rent for its global offices in recent weeks. Twitter also did not pay rent for San Francisco HQ in the city's Civic Centre area. Reportedly, most of Twitter’s offices were left vacant because Twitter introduced its erstwhile work-from-anywhere policy during the Covid-19 pandemic. However, after Musk took over the social media company, the work-from-anywhere policy was scrapped. Twitter is also gripped in another lawsuit. Jet Services Group LLC also s...