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Musk-owned Twitter stiffed employees on promised bonuses, class action says (arstechnica.com)

submitted 1 year ago by BrikoX@vlemmy.net to c/news@beehaw.org

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[–] BrikoX@vlemmy.net 5 points 1 year ago* (last edited 1 year ago)

It's been happening but on a lesser scale, last one I recall was this, but with Tesla he didn't have an active debt to pay off.

Twitter does

Twitter has three large pieces of debt with interest coming due: $6.5 billion that was meant to be sold to leveraged-loan investors, and $6 billion of bridge loans, split equally between a secured and unsecured tranche, that banks had planned to sell in the form of junk bonds.

Source: https://www.bloomberg.com/news/articles/2023-01-18/elon-musk-has-more-to-lose-if-he-tries-to-skip-twitter-debt-payment