Bumble layoffs: Dating app to cut 30% global workforce, impacting over 240 roles

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Dating app Bumble on Wednesday said it will cut nearly 30% of its global workforce, impacting over 240 roles.

The decision was made as the company realigns its operating structure to focus on “strategic priorities,” it said in a securities filing.

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.

Additionally, it said it will incur about $13 million to $18 million to cover costs consisting primarily of employee severance, benefits, and…



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Bumble layoffs: Dating app to cut 30% global workforce, impacting over 240 roles



Dating app Bumble on Wednesday said it will cut nearly 30% of its global workforce, impacting over 240 roles.

The decision was made as the company realigns its operating structure to focus on “strategic priorities,” it said in a securities filing.

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.

Additionally, it said it will incur about $13 million to $18 million to cover costs consisting primarily of employee severance, benefits, and…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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