Having lived in both, the thing that got me is that if you're left with 20% after you've paid for everything that month.. that's an awful lot more left over in a HCOL area.
But then everything seems geared towards parting you from that remaining 20% wherever you live :)
I do feel for those laid off, not everyone being laid off will have managed to maneuver themselves into the ideal position over their time at Twitter.