Twitter Is Being Sued For Violating Employment Laws After Massive Layoffs
Rumors of massive layoffs had followed Elon Musk’s acquisition of the social media platform Twitter. Apparently, the billionaire had thought that there were too many employees in the company and that it could be operating with much less. This has finally come to pass after the company had axed more than 3,000 roles less than […]
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Tesla CEO and Twitter chief Elon Musk has begun massive layoffs at the social media company. The billionaire explained that there is no choice since Twitter is losing over $4 million a day. “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” he explained. Mass Layoffs at Twitter Twitter’s new boss, Elon Musk, has laid off about 50% of employees at the social media company. The billionaire sent an email to all Twitter....
Elon Musk previously won a similar class-action lawsuit brought by Tesla employees, calling the case “trivial.” Amid Twitter beginning mass layoffs, the company employees are launching a class-action lawsuit against the new Twitter CEO, Elon Musk.According to multiple sources, Musk started massive layoffs at Twitter on Nov. 4, reducing the company’s workforce of 7,500 people. The CEO was speculated to cut as much as 50% of Twitter’s staff, or about 3,500 people, just a few days after acquiring Twitter for $44 billion on Oct. 27.In response to the layoffs, Twitter employees filed a....
It's one thing to be sued by a neighbor. It's another thing to be sued by former employees. This brings the level of humility to an all-time high that most business owners hope to never experience for themselves. This month, that scenario is becoming all too real for bitcoin mining firm BitFury, a company facing a pending lawsuit from its former Chief Financial Officer (CFO) Mikhail Golomb. According to Coindesk, the suit was first filed back in April of this year by Golomb, who is claiming he was terminated improperly after the company refused to pay him his allegedly rightful 2 percent....
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.” The fall of crypto exchange FTX and potential resulting contagion could lead to an acceleration of crypto-company layoffs in the coming months, recruitment specialists warn.A Nov. 14 report from crypto data aggregator platform CoinGecko found that as of Nov. 13, the crypto space has seen 4,695 employees let go in 2022 so far, presenting 4% of staff cuts across all “technology startups.” However, the authors of the report warn that crypto layoffs....
Is BitPay in trouble? Wind has been caught that one of the world's largest bitcoin payment processors is in the process of performing massive layoffs, and that half its staff will leave its vicinities in order to halt costs and keep up with bitcoin's current pace. A user named Bingo Boingo on qntra.net writes on the website's forum: "According to a known and reliable eyewitness numerous people have been spotted leaving the BitPay office in tears. This suggests rumors of further rounds of layoffs at BitPay. The witness further suggests that the marketing department was hit hard as many....