Ask HN: Examples of startups that survived layoffs?

I have a friend in one of the many startups that are undergoing massive layoffs (which we define as > 20% layoffs).

He argues that since the raison d'etre of startups is growth, it seems that for most startups a massive layoff will inevitably mean their failure.

I've been through several economic crisis before but can't easy recall any counter examples. Are there notable startups that have had >20% layoffs and then later gone on to a successful exit?