Elon Musk sacks entire Twitter board to become sole director

Elon Musk, Twitter's new 'chief twit', has fired the entire board of the microblogging platform and is now the sole director of the social media giant. This comes hours after Musk denied a report claiming mass layoffs at the company before November 1.

Following this move by the new owner of Twitter, all previous members of Twitter’s board are no longer directors.Earlier in the day, a report noted that Musk wants to avoid paying the stock grants to fired employees, which is why the November 1 deadline has been decided upon. 

After acquiring the company for a whopping $44 billion, Musk wasted no time in firing the top leaders, including CEO Parag Agrawal, CFO Ned Segal, and policy chief Vijaya Gadde.The Tesla chief has also reportedly asked a team to revamp the site's verification process before November 7, failing which they will be shown the door.