Yeah sounded low. But they said it. Maybe meant to say 30 Full time employees and a dose load of outsourced coders.
"Noting that the average team size for the PS3/Xbox 360 generation is 60 to 80 people, he (Epic VP) claimed that a combination of outsourcing and engine licensing enabled companies such as Epic to run at a much lower full-time employee base and cost.
In this case, that would include an average of 30 employees on the Xbox 360-exclusive Gears Of War, working (as "internal licensees") on the Unreal Engine 3 codebase, which is maintained by 20 employees at Epic for worldwide licensing on PC, Xbox 360 and PlayStation 3."