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Sad for tweeps. How much is severance? Curious about market practices nowadays.
Yeah no question about surprise. Question is about severance amount
Elon said 3 months
In the contract it was 2 months plus pay them amount for the stocks. But he may be planning to not give the stocks worth compensation.
I know that those working less than a year won’t get their rsu grants which sucks. But those there longer than a year will get their next quarterly vest.
Isn’t it based on vesting schedule?
Do they still have RSUs? Elon bought 100% of the stock and made the company private, so I assume those shares would have been bought out.
See the poor engineers and factory workers were forced to work during first wave of COVID, even Fremont county required Tesla not to do so. They should know this is coming and believe me worse is coming.
What happened to them?did any of them not recover from Covid?
Not sure what relevance this has. Just cuz some people have a hard time doesn’t make others having a hard time justified or even comparable. Plus OP is asking about severance not Covid
I think I read it was 60 days
Heard from a friend who’s on H1B that they were keeping him on the payroll ll for 2 more months. I don’t know if this is a special provision for H1B holders so as to not trigger the 60 day grace period .
It’s CA law. WARN act
Twitter severance (separate from keeping them on the payroll for 60 more days) is 1 month of pay, conditional on signing a "release of claims"
1 month of pay so you don’t sue? Musky boy is funny af
What does keeping them on payroll for 60 days mean? Does it mean they dont have to work but still get paid? Plus 1 month severance, that’s a 3 month pay with no work. Is that considered a good deal? Seems like a decent deal to me. But i dont know what’s common practice here.
3 months total
This is incorrect. What's being offered is one month severance of base pay only. This is very different than what was agreed upon in the acquisition agreement details that we were presented with previously.
Elon tweeted it was 3 months
Elon said 3 months pay 🤷♂️
3 months(2 is federal law), but merger agreement said it was supposed to by Twitter standard: which was 2 months + prorated bonus + next vest. So he’s in breach of the merger agreement
Is it a merger if he just took it over?
He merged it with himself
I mean this shouldn’t surprised any of them, was telegraphed on like every news outlet months in advance.
You're why Meta is failing
Indeed