Bumble’s shares jumped 25% after the company announced a major restructuring plan that includes cutting about 30% of its global workforce—around 240 jobs. The dating app operator said the move is part of an effort to simplify operations, focus on strategic goals, and return to growth after a steep drop in its market value.
The layoffs will lead to one-time charges of $13 to $18 million across the third and fourth quarters of this year, but the company expects to save roughly $40 million annually as a result. A Bumble spokesperson described the decision as difficult but necessary, adding that the focus going forward will be on strengthening the company’s core offerings and investing in product innovation and technology.
Bumble’s market value has sharply declined from its $7.7 billion debut in 2021 to about $673 million as of this week. However, the company also revised its revenue forecast upward, now expecting between $244 million and $249 million for the current quarter—higher than the previously projected $235 million to $243 million. Adjusted EBITDA is also expected to improve to between $88 million and $93 million.
The company did not specify which teams or regions will be most affected by the layoffs. Management said the restructuring is intended to help Bumble execute more efficiently, stay competitive, and deliver more value to both users and shareholders.
