Hollywood mogul Harvey Weinstein has been fired from his own company after a series of sexual harassment allegations arose late last week. Weinstein was originally said to have been put on administrative leave, but the board of directors ended up firing him after more allegations came to light along with other stories of abuse of power. The 65-year-old's company is now said to be in the hands of his brother, Bob Weinstein, and chief operating officer David Glasser.

The Weinstein Company Board of Representatives confirmed the news late Sunday afternoon with a statement. The statement reads.

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"In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company, Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar, have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately."

Two sources close with the company said that the company was considering changing its name, a move that Bob Weinstein, Harvey's brother, was reportedly resisting. Harvey Weinstein's immediate firing was in direct response to the reports that followed the initial New York Times story, according to the sources. The Weinstein name is now tarnished, so a change of name could be for the better after the smoke clears. On Saturday, a prominent women's rights lawyer who was counseling Weinstein on the claims, Lisa Bloom, resigned as an adviser after she was put to task by her own mother. Bloom's mother, the powerful lawyer Gloria Allred, scoffed at her daughter. She explains.

"Had I been asked by Mr. Weinstein to represent him, I would have declined, because I do not represent individuals accused of sex harassment."

About a third of the company's all-male board resigned the same day. One of the sources said they were friends of Weinstein's and didn't want to be involved in removing him. More of Harvey Weinstein's friends and peers began to jump ship as well, some coming forward to dispel the rumor that everybody knew about Weinstein's reputation over the past 30 years.

One of the friends to step forward was actress Meryl Streep, who jokingly called Harvey Weinstein "god" and "the punisher," after receiving an Academy Award in 2012. The actress says the news has "appalled" her and everybody who worked with and "championed" Weinstein. Streep also went on to say that she and many others were not aware of Weinstein's sexual predatory past. She said, "not everybody knew."

The New York Times article released last week chronicled the numerous sexual harassment settlements Weinstein made with actress Ashley Judd and former employees at both The Weinstein Company and Weinstein's former company, Miramax. After Judd came out, more allegations started to pour out and Weinstein offered an "apology," but soon after, threatened to sue the New York Times for breaking the story, which pretty much erased the apology and sealed his fate. As of this writing, more allegations are still starting to come to light and this is far from over for the former Hollywood mogul. You can check out the rest of coverage courtesy of The New York Times, who originally broke the story.