Musk denied that he had laid off Twitter because he didn't want to pay the salary.

Beijing, Oct. 31 (Xinhua) Elon Musk, Twitter's new boss, tweeted on Sunday that he would lay off staff early to avoid paying stock awards to employees.

There are media reports that Musk will make layoffs by November 1, when Twitter employees will receive stock awards. Such stock awards usually account for a large portion of employees' salaries. Mr Musk may avoid paying these rewards if he can lay off staff by November 1.

"this is fake," Musk said in response to a question from netizens on Sunday. "

▲ Musk denied media reports, but Musk fired a number of executives, including CEO and CFO, on the first day he took over. Rich Greenfield, an analyst at research firm LightShed, said on Twitter on Saturday that Musk fired Twitter executives for "a reason". As part of the change of control, he prevented these executives from acquiring unowned shares.