According to the New York Post, Elon Musk, the renowned entrepreneur and new head of the social network X (formerly Twitter), has apparently forgotten to pay out millions in bonuses to his employees, breaking his promise. The move has been described as capriciously unfair, especially given the hard work and contribution of the staff to the company's success. Yet here they are, employees with empty pockets, receiving a rather sarcastic 'thank you' for their dedication.
Mark Schobinger, a past employee of X, disclosed that the workforce was meant to receive half of their 2022 bonuses, under the condition they stayed on board through the first quarter of 2023. However, as the year drew to a close, these promised bonuses remained unpaid.
This led Mr. Schobinger and roughly two thousand other current and former employees to initiate a class-action lawsuit in a San Francisco court, seeking compensation exceeding $5 million. The court acknowledged the legitimacy of the breach of contract claim, given the explicit mention of bonus payments in the labor contract. In defense, X's legal representatives claimed that the bonuses were only verbal promises, essentially saying ‘if it's not in writing, has it really happened?’ X, which has a market capitalization of $19 billion, inclusive of employee stock awards, had previously offered its employees shares worth $20 billion in March 2023.
