Elon Musk and X Corp reach a settlement in the $500 million lawsuit over Twitter's layoffs

AASTOCKS
2025.08.21 17:40

Elon Musk and his social media company X Corp have reached a preliminary agreement to resolve a $500 million severance pay claim lawsuit filed by former Twitter employees due to their layoffs.

X Corp and the lawyers representing the former employees stated in court documents on Wednesday that both parties have filed a request with the U.S. Court of Appeals to postpone the upcoming trial in order to finalize the severance payment agreement and end the lawsuit. The financial details of the agreement have not been disclosed.

After acquiring Twitter in 2022 and renaming it X, Musk laid off approximately 6,000 employees. Some employees filed lawsuits regarding their layoffs and severance pay, while other related cases are still being heard in Delaware and California courts

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