Bumble is laying off about one-third of its workforce, approximately 240 employees, to save $40 million as part of organizational changes. Its first-quarter revenue was about $247 million, down nearly eight percent from the previous year. CEO Whitney Wolfe Herd indicated that the company is at an inflection point and is undergoing necessary rebuilding. The dating app industry is facing challenges, with a 10 percent decline in worldwide monthly active users and a noted preference for traditional dating methods, especially among Gen Z.
Bumble plans to lay off about one-third of its workforce, totaling approximately 240 employees, aiming for a savings of about $40 million.
Bumble reported a total revenue of about $247 million in the first quarter, reflecting an almost eight percent decline from the prior year.
Bumble CEO Whitney Wolfe Herd stated that the company is at an inflection point and has been 'rebuilding,' necessitating difficult decisions.
Research indicates that worldwide monthly active user growth for dating apps fell by 10 percent year over year, signaling a shift in user preferences.
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