Bumble has announced it will cut 240 jobs, constituting a 30% reduction in its workforce, as part of a strategic overhaul. CEO Whitney Wolfe Herd described the decision as necessary for rebuilding the company to become more resilient and intentional in the evolving online dating landscape. The layoffs are intended to save $40 million annually, which Bumble plans to reinvest into technology and product development. Following the announcement, Bumble's stock experienced a significant surge, indicating market response to the restructuring efforts.
"In recent months, we've been rebuilding - returning to what makes us trusted, unique, and deeply human. But intentional rebuilding requires hard decisions."
"The reality is, we need to take decisive action to restructure to build a company that's resilient, intentional, and ready for the next decade."
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