Twitter management firings to cost Elon Musk $100 million

Twitter management firings to cost Elon Musk $100 million
Elon Musk. Credit: Belga

Firing Twitter chief executive Parag Agrawal, chief financial officer Ned Segal and director of policy and legal affairs Vijaya Gadde will cost the social media company some $100 million, according to calculations by Bloomberg news agency.

The three men, who immediately lost their jobs after Tesla boss Elon Musk took over Twitter, are entitled to a year’s salary and the payout of stock options they still held.

For Agrawal, who was Twitter’s big boss for less than a year, his dismissal means he can count on some $50 million.

Segal is entitled to $37 million, while Gadde is to get $17 million.

Moreover, their health insurance will continue to be paid by the company for another year, to the sum of $31,000.

The three men were among several senior officials laid off by Musk after acquiring the company on Thursday.

Various media had reported last week that Musk planned to eliminate nearly 75% of Twitter’s staff to cut costs, but Musk has since denied this, assuring employees that he would not cut such a large portion of the staff.

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