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6d ago

Bumble to Cut 30% of Staff as It Raises Second-Quarter Outlook

The restructuring is designed to save about $40 million for reinvestment in product and technology development.

Shares of Bumble jumped 23% after markets opened in New York.
The Bumble Headquarters in Austin, Texas.
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FILE - The dating app Bumble on a smart phone, June 26, 2024, in New York. (AP Photo/Peter Morgan, File)

Overview

  • Bumble will eliminate roughly 240 positions, representing 30% of its global workforce, as part of a strategic realignment.
  • The company projects non-recurring layoff charges of $13 million to $18 million in the third and fourth quarters of 2025.
  • After announcing the job cuts, Bumble lifted its Q2 revenue forecast to $244 million–$249 million and set adjusted EBITDA guidance of $88 million–$93 million.
  • Founder Whitney Wolfe Herd resumed her role as CEO in March to oversee the turnaround following declines in revenue and subscriber growth.
  • Shares jumped over 20% in early trading as investors welcomed the cost-cutting measures and upgraded outlook.