To be fair, this could be due to the bias in reporting, as media outlets may have had incentives for over-emphasizing the T&S angle.
I do not deny there was bloat. There was bloat in most tech firms at the time. But I don't think it was 80% bloat. My post was to explain how, even if T&S / moderation seems like a small function, it can require an unexpectedly large headcount -- probably even more for a pure-UGC company like Twitter -- and so could realistically account for the bulk of the cuts.
https://news.ycombinator.com/item?id=45192092
Again, I'll admit Twitter and all other companies had bloat. But based on these industry-wide reports about record levels of burnout, inside knowledge of at least one company that I thought had unjustified layoffs, and a large number of conversations I've been having with connections across the tech industry, I think these layoffs have long gone far beyond the bloat.