The Bumble app on a smartphone organized in New York, US, on Monday, Nov. 6, 2023.
Gabby Jones | Bloomberg | Getty Photographs
Bumble on Tuesday introduced plans to put off round 350 workers, or about 37% of its workforce, as a part of a restructuring plan.
The corporate stated the layoffs will assist drive stronger working leverage and align its working mannequin with “future strategic priorities,” in line with its fourth-quarter report. Bumble had greater than 950 full-time workers as of December 31, 2022, in line with a submitting with the U.S. Securities and Alternate Fee.
The courting app reported $273.6 million in income for the quarter, up from the $241.6 million it reported in the identical interval final 12 months. Bumble posted a internet lack of $32 million, or a lack of 19 cents per share, in comparison with the year-ago quarter, when the corporate reported a internet lack of $159.2 million, or 35 cents per share.
Shares of Bumble fell greater than 8% in after-hours buying and selling Tuesday.
Bumble CEO Lidiane Jones stated in an announcement that the corporate is taking “vital and decisive” motion to speed up its product roadmap.
“We consider these actions will strengthen our foundational capabilities and allow us to proceed delivering new and fascinating person experiences that create wholesome and equitable relationships,” Jones stated within the launch.
Bumble is the newest firm within the tech sector to announce cuts in current months, as buyers proceed to push for effectivity. Firms like Google and Amazon have continued to trim headcount, and greater than 170 tech firms have minimize practically 44,000 jobs, in line with Layoffs.fyi, an trade tracker.
