I have no idea how many lines they have, but they were never a big department and they were great. History has already shown that they don't have to be bigger to be great. They were small, trained job market stars, and just kept on going like that until too many people left. They just need to retain their poaches this time around and replace the retirements with a few big names. If they can do those things, they'll recover. Again, worst case scenario is they can't hold onto their younger people and the retirements aren't replaced well or at all.
They only have 20 lines. That's pretty low. NYU has close to 35 and with 20 less students. Duke has 23 lines and with about 40 less students. That is why they aren't placing as well lately as those better resourced demartments. Doesn't seem like they have gotten the green light to expand their faculty size.
^ This just sounds alarmist to me. Not all departments are at a University like Princeton with tons of money and prestige. They'll keep poaching and building and when people retire they'll just hire more. I don't see the cause for panic. Give them a few years. The only problem I can foresee is if people retire, they can't hire and poach more to replace them, and even their most talented young folk leave. That'd be doom.