Social media platform X says a currency conversion error resulted in former Twitter staff being overpaid their entitlements.
Elon Musk’s social media platform X is threatening to take some former Australian employees to court, demanding they return entitlements it claims were overpaid to them after it bungled the currency conversion from US to Australian dollars on the payments.Elon Musk’s X Corp is chasing former staff to pay back stock benefits it mistakenly overpaid them 18 months ago.
“We would be grateful if you could arrange the repayment to us at your earliest convenience.”The company said the overpayment was related to “deferred cash compensation”, in the form of employee shares issued to the staff when they joined Twitter. These shares were valued at $US54.20 each, the price at whichin 2022, and the total number of shares acquired by an employee was based on the length of their tenure at the company.
Employee share schemes of this type typically were not regulated by Australia’s Fair Work Act, she said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk victory as judge overturns ban on church stabbing video postsMusk has argued that by blocking the video to all Australians, the watchdog was in effect seeking a global ban outside its jurisdiction.
Read more »
Elon Musk victory as judge overturns ban on church stabbing video postsMusk has argued that by blocking the video to all Australians, the watchdog was in effect seeking a global ban outside its jurisdiction.
Read more »
Elon Musk victory as judge overturns ban on church stabbing video postsMusk has argued that by blocking the video to all Australians, the watchdog was in effect seeking a global ban outside its jurisdiction.
Read more »
Elon Musk's X will no longer be forced to remove videos of Wakeley church stabbingAustralia's online safety regulator has been dealt a loss in its battle with the Elon Musk-owned social media platform X over video of a stabbing during a live-streamed sermon.
Read more »
Elon Musk’s Aussie chair battles shareholders over Tesla boss’s billionsRobyn Denholm, Tesla’s Australian-born chair, is seeking to reverse a judge’s ruling regarding Elon Musk’s $56 billion pay package.
Read more »
Elon Musk’s Aussie chair battles shareholders over Tesla boss’s billionsRobyn Denholm, Tesla’s Australian-born chair, is seeking to reverse a judge’s ruling regarding Elon Musk’s $56 billion pay package.
Read more »