Elon Musk’s alleged penchant for not paying bills is catching up with him. In the wake of numerous lawsuits claiming the world’s richest man failed to pay severance owed to many of the 6,000 employees he fired after acquiring Twitter. On Monday, CNBC reported that the tech company now known as X is facing some 2,200 arbitration cases filed by ex-employees, which come with $3.5 million in required fees—an amount that doesn’t even include the actual severance owed to those Musk let go.
In October, shortly after taking Twitter’s reins, Musk laid off more than half of its employees, promising most at least two months’ salary plus a week’s pay for every year they’d worked at the firm. Thousands claim that they haven’t received a single dime, and ex-employees have since filed several lawsuits seeking their promised benefits.
I worked at a company (as briefly as possible) where an advisor came in and did this. He started listing off who we actually needed to pay on our rotating debts and who we could put off and how long. When I left, within 3 months several very important vendors were calling asking if I could do anything to help them out. I told them if they stopped sending supplies that would probably help the process.
Our dumb CFO held every 100k payment to motherfucking AWS until they were threatening to cut off our service during the next 24h. It was incredible to watch. Or perhaps this is perfectly normal in the absolutely abnormal corpo life.
To think a bunch of C students get an MBA to spread this trash and collect consulting fees and I just thought working hard would let to success.
Somebody running a business actually needed to be told this?
Many sub contractors live on the mercy of the companies they supply. That forces them to show more goodwill than they want.
I remember a couple years back when Ericsson unilaterally decided that they would stop paying their bills after a month and instead changed it to three months. So, do you want to piss off the biggest company in the region or do you just say “Thank you, sir”?
As an aside, what kind of amoral sod goes around teaching companies what bills they can ignore and how morally bankrupt must you be to listen to them?
Capitalism has no moral component. In fact, quite the opposite in its purest form.
When your neck is on the chopping block anyway, I guess you see how long you can spin out your last words.
Tomorrow is a better day to die