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Musk fired Twitter execs in attempt to avoid payouts, layoffs planned

Twitter CEO Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde were fired on Thursday, people familiar with the matter told Reuters. He had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform. According to research firm Equilar, the executives stood to receive separation payouts totaling some $122 million. The New York Times reported on Saturday that Musk has ordered job cuts across the company, with some teams to be trimmed more than others and layoffs would take place before the Nov. 1 date, when employees were scheduled to receive stock grants as part of their compensation. The Times reported the cuts could begin as soon as Saturday. Twitter did not immediately responded to . . .

Read more at www.reuters.com