Elon Musk does not want to pay "golden parachute" to fired executives

It is alleged that Elon Musk, who bought Twitter for $44 billion, fired the company's CEO and other executives not to pay compensation.

Elon Musk has formally taken ownership of Twitter two days ago and he had immediately laid off Parag Agrawal, having succeeded co-founder Jack Dorsey as Twitter chief executive officer(CEO). Additionally, Musk fired chief customer officer Sarah Personette, general counsel Sean Edgett, chief financial officer Ned Segal, and policy chief Vijaya Gadde. Now, sources have reveal that Elon Musk does his best not to pay the million-dollar worth of "golden parachutes" to these fired executives.

Fired executives Parag Agarwal and more might not get their "golden parachute" from Elon Musk

After concluding the $44 billion acquisition of the social network company, Musk is said to have immediately fired the chief executive, Parag Agrawal, the finance boss, Ned Segal, and Vijaya Gadde, who was in charge of legal, policy, and safety.

Research firm Equilar announced that three top executives fired by Elon Musk, would receive a total of $122 million in compensation. According to reports Agrawal would receive $57.4 million, Segal $44.5 million and Gadde $20 million. In addition to these payments, the three executives will collectively receive an additional $65 million from Musk in exchange for their stakes in the company.

However, according to the reports from Reuters, Musk, who must pay a total of 122 million dollars compensation to these names, is trying every way to avoid paying additional compensation and shares. Various sources stated that Musk fired Twitter's management staff in order not to pay the shares that he had to pay to the executives.

Musk also prepares for great layout

On the other hand, it is alleged that Elon Musk, who previously denied the news that he would dismiss 75% of the company's employees, ordered the firing of hundreds of people.

According to the news of the New York Times, Musk will lay off hundreds of people in a few days in order not to give a share to many employees.