Elon Musk: the new “chief twit” of Twitter, has dismissed the board of directors and is now the only director of the social media behemoth. This comes after Musk rejected a rumour that the business had mass layoffs before November 1.
All former directors of Twitter are no longer directors as a result of this action by the company’s new owner.
The November 1 date was chosen because, according to a source from earlier in the day, Musk wanted to avoid paying the stock grants to sacked staff.
Musk immediately fired the company’s top executives, including CEO Parag Agrawal, CFO Ned Segal, and policy director Vijaya Gadde, after buying the business for a staggering $44 billion.
Additionally, the Tesla CEO is said to have ordered a staff to update the site’s verification procedure by November 7 or they will be fired.
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Still unfounded claims of layoff
According to a different rumour, Musk may terminate 75% of Twitter’s employees, reducing the company’s workforce from 7,500 to 2,000. The billionaire has refuted this, yet there are still unfounded claims of layoffs because media outlets including The New York Times, The Washington Post, and The Verge published on the subject using information from Twitter employees and internal papers.
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