Billionaire Musk denied the report that he planned to fire Twitter workers to avoid payouts

Mr. Musk denied a New York Times report that he is planning to lay off Twitter employees to avoid having to make payouts before the start of next month.

About the report, Elon Musk tweeted: "This is false." After months of legal wrangling, the Tesla boss completed his $44bn takeover of the social media platform last week. The buyout exited top bosses of the firm including the finance chief, chief executive, and chairman.

The New York Times, on the weekend, reported that Elon Musk had ordered significant job cuts across the workforce of Twitter. According to the newspaper the layoffs would occur before 1st November when employees were due to receive grants of shares as a significant part of their pay deals in the company.

Last week Elon Musk said that he doesn't want Twitter to be an echo chamber for division and hate.  He tweeted, "Twitter cannot become a free-for-all hell-scape, where anything can be said with no consequences!" After denying the New York Times job cuts report, Musk shared a screenshot of the newspaper, on the platform, about him posting a link to a site known to publish false news.