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Monday, December 11, 2023

Elon Musk Twitter news: Fired CEO Parag Agarwal to take this BIG amount as payout


Elon Musk Twitter news:¬†Twitter’s top executives stand to make a total of $88 million between them — Parag Agrawal alone will get $38.7 million — after being ousted by Elon Musk who has finally taken over the micro-blogging platform in a $44 billion takeover deal.

According to Insider, the former Indian-origin CEO is set to receive the largest payout of $38.7 million, largely due “to the entirety of his shares vesting upon his firing”. Twitter’s chief financial officer Ned Segal, is set to receive $25.4 million and Vijaya Gadde, the chief legal officer, will be richer by $12.5 million after firing.

Sarah Personette, the chief customer officer, would get $11.2 million. Musk is expected to reorganise Twitter and cut the workforce by a massive margin. Musk, however, told Twitter employees during his visit to its headquarters that he is not going to lay off 75 per cent of the workforce when he takes over the micro-blogging platform.

Reports earlier mentioned that Musk will fire 75 per cent, or 5,600 employees, from the Twitter staff globally. Musk has casually mentioned laying off Twitter staff in his tweets, without mentioning any figure.

Twitter employees are still anxious about expected staff cuts as part of the takeover. They had written an open letter to the board of directors and Musk, criticising his plans to lay off 75 per cent of the workforce. As Twitter CEO, IIT grad Parag Agrawal joins array of Indian-origin tech leaders.(photo:Social Media/Twitter)


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