https://forum.paradoxplaza.com/foru...development-diary-september-28th-2016.971372/
They wrote a Dev Diary about it in September. They had 11 people working on the game post Summer. The numbers probably increased by now though as mentioned by their Project Lead "KimchiViking" who seemed to have joined the company that Summer.
If you read that post carefully, you'll find that the majority of team members have been on the project for several years, and nowhere does it say that the team was downsized. That's just how big teams are at Paradox. PDS has around 100 employees, with 4 live games being supported and several internal projects running (which may or may not ever see the light of day). You do the math.