you're forgetting the sunk cost of renting some office in town. If the numbers are big enough, and especially when you want to downsize anyway, it may make more sense to enforce RTO to kill two birds with one stone. RTO works on the gamble that you keep enough of your staff afterwards to be fine.

IDK if 50% means they lost that gamble, but it sounds higher than expected. I wouldn't have place it higher than 20-25% for a company Grindr's size.