Twitter is down to fewer than 550 full-time engineers

80% layoffs, 7500 people originally.

I guess we need qualified comparison to other similar sized services to understand if that is valid or not?

Anyway best thing that can happen is "death by 1000 cuts" with many other competing services.

„ Internal records indicate that there are also about 1,400 non-working employees of Twitter who are still being paid, but are no longer expected to fulfill their old responsibilities at the social media company. Many of them resigned when CEO Elon Musk sent out a "pledge" asking them to commit to "hardcore" work at Twitter 2.0 including long hours. “

1,300 employees and another 1,400 nonworking paid employees