Match Group is implementing a reorganization that includes laying off 13% of its workforce, approximately 325 employees, to cut costs and enhance operational efficiency. This move is designed to reduce management layers, centralize functions like technology, customer care, and content moderation, and align the company under a unified structure. CEO Spencer Rascoff emphasized that the goal is to operate as a cohesive organization rather than a collection of independent brands. The changes are projected to save over $100 million annually, amid declines in revenue and net profit in the first quarter of the year.
The layoffs will streamline operations, centralizing key functions and reducing costs, as part of an effort to improve profitability and efficiency at Match Group.
CEO Spencer Rascoff noted that the layoffs aim to unify Match Group's diverse dating brands into a cohesive company, rather than allowing them to operate independently.
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