Bumble Lays Off 30% in Restructuring Move

Bumble is laying off around 240 employees, about 30% of its global workforce, as part of a major restructuring to cut costs and refocus on product and technology development. The company expects annual savings of up to $40 million, with most of the funds reinvested in strategic initiatives. CEO Whitney Wolfe Herd, who recently resumed leadership, stated the moves are necessary to build resilience and adapt to an 'inflection point' in the dating industry, marked by user fatigue and changing preferences, particularly among Gen Z. Bumble has experienced a steep decline in market value since its 2021 IPO, but its shares surged over 20% after announcing the layoffs and a higher revenue outlook for the current quarter. The company will incur $13–$18 million in restructuring costs, primarily for severance and benefits, over the next two quarters. Similar layoffs at competitors like Match Group underscore industry-wide challenges around growth and profitability.