Valleywag's original numbers of 20 out of 28 let go, and those citing them, are not accurate. The true numbers I hear are more like 13 let go, 17 kept in total, and 12 let go and 12 kept in SF--in total, around 20% of LJ staff according to their PR correspondents. Always be skeptical of Valleywag.

 

And more details and links therein.