1. Home
  2. >
  3. Business 💼
Posted

Elon Musk's 'X' Sued By Thousands Of Employees Over Severance Pay: Report

Elon Musk's social media company, X (formerly Twitter), is facing 2,200 arbitration claims from ex-employees, resulting in potential filing fees of $3.5 million, as former employees seek to move their cases to trial.

ndtv.com
Relevant topic timeline:
The main topic is that the Agence France-Presse (AFP) news agency is suing Elon Musk-owned X (formerly Twitter) for copyright infringement in France. AFP claims that X has refused to discuss remuneration for sharing its news content. AFP is seeking an urgent injunction to obtain the necessary information to calculate the money owed to them under France's neighboring rights legislation. The extension of copyright law covers excerpts of news content shared on digital platforms, including text, photographs, videos, and infographics. Google has previously faced legal action and a fine for failing to negotiate payments with news publishers. X's case may not trigger intervention from the competition authority as it does not hold a dominant position in search or social media.
Main topic: X (formerly known as Twitter) throttling traffic to websites disliked by Elon Musk. Key points: 1. X slowed down access to websites including The New York Times, Instagram, Facebook, Bluesky, Threads, Reuters, and Substack. 2. These websites have been publicly attacked by Musk in the past. 3. The delays potentially affected the traffic and ad revenue of these companies. Hint on Elon Musk: Musk has previously blocked links to competitors, called the New York Times "propaganda," and took away their verification check mark. He has also feuded with Mark Zuckerberg and threatened a cage fight.
Main topic: Elon Musk-owned social network X (formerly Twitter) has made TweetDeck a subscriber-only product. Key points: 1. TweetDeck, previously a free tool, is now only accessible to subscribers of X Pro. 2. This move affects social media managers, journalists, and power users who relied on TweetDeck for tracking lists and trends on Twitter/X. 3. Under Musk's ownership, X has introduced various subscription offerings, including verification marks, longer text and video posts, fewer ads, encryption in DMs, and ad revenue sharing. Hint on Elon Musk: Elon Musk is the owner of social network X (formerly Twitter) and has implemented changes such as making TweetDeck a subscriber-only product and introducing various subscription offerings.
Elon Musk believes that X, formerly Twitter, could eventually reach a market cap of $1 trillion, expressing optimism about its future valuation.
Tesla founder Elon Musk will pay back more than 3,000 investors approximately $12,397 each as part of a settlement over a lawsuit accusing him of defrauding investors with a tweet about taking the company private.
Elon Musk's company, X (formerly Twitter), has introduced a new feature for verified organizations to post job listings on the platform, allowing them to reach millions of candidates and connect them to the organization's website for applications.
Former pharmaceutical executive and convicted securities fraudster Martin Shkreli claims he has been lobbying Elon Musk through mutual friends to regain access to his original X (formerly Twitter) account, alleging that Musk's actions contradict his stance on free speech; Shkreli believes Musk may be jealous of him and his machismo.
Elon Musk's Twitter, now rebranded as X, has obtained a currency transmitter license in Rhode Island, indicating a possible move towards crypto payments and turning the platform into an all-in-one app like China's WeChat.
Elon Musk's social media platform X, formerly known as Twitter, is updating its privacy policy to collect users' biometric and personal data, raising concerns about privacy and the potential for misuse of information.
Elon Musk moved forward the Twitter deal closure in a last-minute scheme to terminate the employment of CEO Parag Agrawal and senior management, inflicting punishment for alleged fraudulent practices and to prevent stock options from vesting.
Elon Musk says Twitter will file a defamation lawsuit against the Anti-Defamation League, accusing them of falsely accusing him and the platform of being antisemitic and blaming them for Twitter's falling U.S. advertising revenue.
Elon Musk reportedly paid back a $1 billion loan to SpaceX, with interest, after using the loan to acquire the social media company formerly known as Twitter.
Elon Musk's Subscriptions feature on X (formerly Twitter) is not gaining significant traction, with Musk having only 40,000 subscribers out of his 155 million followers, suggesting that it is not a successful tool in the creator economy.
Twitter, now called X, is suing California over a state law that requires social media companies to disclose their content policies, claiming it violates free speech and pressure them to remove objectionable content.
Elon Musk's takeover of Twitter led to multiple business decisions that violated the company's internal policies and likely ran afoul of a government order on data security and privacy, according to depositions from former employees published by the Justice Department in a court filing.
The US government is seeking Elon Musk's testimony in an investigation into X (formerly known as Twitter), citing concerns about the company's ability to comply with the law and protect user privacy.
Elon Musk, CEO of SpaceX and Tesla, revealed plans for his social network, X (formerly Twitter), to introduce a monthly payment system to combat bots, but did not disclose the cost or additional features included, while also claiming to have 550 million monthly users generating millions of daily posts, without specifying the authenticity of these users. Musk's discussion with Israeli Prime Minister Benjamin Netanyahu also addressed concerns over hate speech and antisemitism on the platform, following Musk's previous amplification of such content. Musk's takeover of Twitter led to significant changes, including staff cuts, the restoration of previously suspended accounts, and the elimination of Twitter's verification system.
Elon Musk suggests that users of X (formerly Twitter) may have to pay for access to the platform in order to counter bots, with a small monthly payment being considered as a defense against fake accounts.