Match Group Cuts 13% of Workforce Amid Restructuring

Match Group, the parent company of popular dating apps including Tinder and Hinge, is cutting 13% of its workforce—approximately 325 employees—as part of a restructuring plan initiated by new CEO Spencer Rascoff to reduce costs, improve margins, and streamline operations. The reorganization includes flattening management levels by cutting one in five managers and centralizing key functions such as technology, customer support, content moderation, media buying, and international market strategies, aiming to unify the company’s brands under a single operational entity. Despite a 3% decline in first-quarter revenue to $831.2 million and a 4.6% drop in net profit, Match Group beat revenue expectations and forecasted second-quarter revenue between $850 million and $860 million, exceeding Wall Street estimates. The company also reported a 5% decrease in paying users but a slight increase in revenue per payer, reflecting resilience amid industry headwinds like inflation and stagnant feature innovation. Match Group is leveraging AI-driven features to enhance user engagement and improve platform security, reducing bad actor reports by over 15%, signaling a strategic pivot to maintain competitiveness in a challenging dating market. These measures are projected to generate over $100 million in annualized savings and about $45 million in 2025, supporting the company's turnaround efforts.