World News

22291 readers

7 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 3 years ago

MODERATORS

[email protected]

101

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

submitted 2 years ago by [email protected] to c/[email protected]

21 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 2 years ago* (last edited 2 years 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