Twitter workers are suing Elon Musk as the company begins a mass layoff program.
The billionaire has begun moving the ax as he plans to lay off 3,7000 workers, or about half of the workforce.
But the employees have filed a class-action lawsuit, saying the lack of notice of the layoffs violates federal and state law.
Twitter’s offices are temporarily closed, and some workers have reported that their access to company email and Slack has already been cut.
5 things to start the day
1) UK faces longest recession on record: Bank of England warns economy is already in decline as it announces eighth consecutive rate hike
2) Saudi Arabia launches electric car company to challenge Tesla – Oil-rich kingdom announces joint venture with Taiwan’s Foxconn
3) BMW boosted by demand from Chinese drivers: Automaker results ahead of German leader Olaf Scholz’s visit to Beijing
4) World ‘slides towards societal collapse’ as era of cheap money ends: Hedge fund Elliott attacks central banks as prices spiral
5) Deloitte replaces half its UK executive team in purge of older partners: Unexpected reshuffle makes way for six newcomers
What happened during the night
Shares were mostly higher in Asia on Friday, led by a 5.8% jump in Hong Kong’s Hang Seng index, as Chinese markets rose on speculation that Beijing could begin to ease restrictions pandemics
Hong Kong’s Hang Seng rose 16,221.86, while the Shanghai Composite rose 2.1% to 3,060.39.
Japan’s benchmark Nikkei 225 fell, catching up after Japan’s markets were closed for a holiday on Thursday, down nearly 2% to 27,120.61.
Australia’s S&P/ASX 200 rose 0.3% to 6,878.20 and South Korea’s Kospi gained 0.3% to 2,335.72.