Amid reports about drastic job cut plans, Twitter clarified to staff that there are no plans for company-wide layoffs. This came after the company signed a deal to be acquired by billionaire Elon Musk. 

An official email was sent by Twitter General Counsel Sean Edgett to employees on Thursday, saying the company does not plan layoffs, according to Reuters.

Earlier on Thursday, The Washington Post reported that Elon Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75 per cent of the company's 7,500 workers, citing interviews and documents.

Earlier, the Tesla CEO tried to walk away from his deal to buy Twitter. Later, he sounded optimistic about the purchase. "I'm excited about the Twitter situation, because obviously, I know their product very well," Musk said on Tesla's earnings call on October 19.