I'd wager a bit more than that to maintain existing services. But they haven't given up on growth yet, disappointing news doesn't = throw in the towel. If these rumors are true, best of luck to those affected.
He picks on Twitter in one part, showing the graph of the number of employees by year, challenges their claims to the complexity of implementing Twitter, and mocks a UI problem he just had.
Twitter starts at 7 minutes: https://www.youtube.com/watch?v=k56wra39lwA
Thanks. Good video.