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Amid the continuing layoffs at Twitter, Elon Musk may have zeroed in on its new CEO -- Steve Davis who is a long-time associate of Musk and currently the CEO of The Boring Company.

The Boring Company is an infrastructure and tunnel construction services company founded by Musk.

According to Platformer, Davis came to Twitter as part of Musk's transition team last year.

Musk had tasked Davis with cutting $500 million in costs but he ended up cutting nearly $1 billion.

"His success in bringing costs down by any means necessary has led to growing speculation internally that Musk will choose him to be Twitter's next CEO," the report mentioned.

Davis has emerged as one of Musk's top lieutenants at Twitter, which is going through massive churning and layoffs.

According to the report, the latest job cut impacted more than 200 employees and Davis had a key role to play.

The latest layoff round impacted more product managers, engineers, and a number of people on data science.

Chris Reidy, the company's acting head of sales, was also asked to go.

With this recent cut, the Twitter CEO has done at least four rounds of layoffs.

This is happening despite his promise not to sack more employees after his brutal layoff exercise in November last year that affected two-thirds of the micro-blogging platform's 7,500 employees.

The Boring Company was formed as a subsidiary of SpaceX, before separating in 2018.

Its ongoing projects are designed for intra-city (loop) transit systems, which are all-electric, zero-emissions, and high-speed underground public transportation systems that shuttle passengers to their destination without an intermediary stop.