Haven't seen any public reporting on this yet, but from internal conversations this seems to include a 60% workforce reduction at Tumblr, which now only has a few remaining engineers.
I actually started paying the subscription for my Tumblr account a couple years ago. I don't get much direct benefit from it, I do it because it's the only social media site I use and enjoy, and I was hoping it would help keep it from shutting down. 60% workforce reduction is not great.