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Bumble to lay off 30% of its workforce
Dating app Bumble announced on Wednesday that it's laying off 30% of its workforce, impacting around 240 positions.
The company said in a securities filing that the cuts are part of its plans to realign its “operating structure to optimize execution on its strategic priorities.” Bumble anticipates saving $40 million per year as a result of the workforce reduction and plans to reinvest most of this money into product and technology development. The cuts come as Bumble announced at the start of the year that founder Whitney Wolfe Herd was returning as CEO in March, after stepping down from the position in 2023.
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