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2w ago

Bumble Cuts 30% of Staff in Wolfe Herd's Turnaround Strategy

The cuts will save $40 million a year to reinvest in product development as the company overhauls its platform to boost engagement.

Shares of Bumble jumped 23% after markets opened in New York.
FILE - The dating app Bumble on a smart phone, June 26, 2024, in New York. (AP Photo/Peter Morgan, File)
Whitney Wolfe Herd was recently reinstated as CEO of Bumble.

Overview

  • Bumble will eliminate about 240 positions, representing roughly 30% of its global workforce, under a restructuring plan filed June 25, 2025.
  • The company expects the layoffs to generate $40 million in annual savings that it will funnel into product and technology development.
  • Shares jumped more than 26% after the announcement, signaling investor approval of the cost-cutting measures.
  • Bumble raised its second-quarter revenue outlook to $244 million–$249 million and now anticipates adjusted EBITDA of $88 million–$93 million.
  • Founder and CEO Whitney Wolfe Herd, who returned to the role in March 2025, is driving the platform overhaul in response to declining user engagement.