Elon Musk and his social media company X Corp. have reached a tentative agreement to settle a lawsuit filed by former Twitter employees who said they were owed $500 million in severance pay.

Elon Musk and his company X Corp have reportedly come to a preliminary agreement to resolve a lawsuit initiated by former Twitter employees who claimed they were entitled to $500m in severance payments.

The settlement would cover about 6,000 workers who were laid off after Elon Musk bought the company for $44 billion and rebranded it as X.