Bumble has announced plans to lay off approximately a third of its workforce in an effort to revive growth and embrace a start-up mentality. The company is cutting around 240 roles, which represents 30% of its global staff, in response to struggling stock performance since its IPO. Founder Whitney Wolfe Herd indicated that decisive actions are necessary for the company to become resilient and intentional. This restructuring aims to save $40 million annually, which will be redirected toward product and technology development. Despite these cuts, Bumble has raised its revenue forecast for the upcoming quarter.
In our decision to restructure, we are aiming to cultivate a resilient company ready for the next decade, which entails embracing a start-up mentality again.
The hard decision to reduce our team size was driven by our need to execute a strategy that allows us to return to our core values and unique identity.
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