No established company invests 75% of their people into new features and services. There was definitely bloat. The degree of bloat is the unknown.
Sure you have two extra SREs you don't "need", and your HR department might be slightly overstaffed. But then one critical employee gets cancer and is off work for 6 months, and another employee has to go on maternity leave, and you don't have any extra employees in that department anymore. Hope you didn't fire your bloat!