Bumble announced it will lay off approximately 30% of its workforce, translating to around 240 roles, to achieve annual cost savings of up to $40 million. After these layoffs, the company plans to reinvest most of the savings into product and technology initiatives. The announcement follows a previous workforce reduction earlier in the year and comes after Whitney Wolfe Herd re-assumed the CEO role in March. Despite the layoffs, Bumble raised its revenue forecast for the current quarter to $244-$249 million, indicating confidence in its growth trajectory.
Bumble is reducing its global workforce by approximately 240 roles, which accounts for about 30% of its staff, as part of a cost-saving strategy.
Following the layoffs, Bumble anticipates annual cost savings of up to $40 million, which will be largely reinvested into product development and technology initiatives.
Wolfe Herd expressed her challenges watching Bumble's decline, stating, 'Bumble needs me back' as she resumed her role as CEO amid these significant changes.
Bumble also raised its revenue forecast for the current quarter, projecting earnings between $244 million and $249 million, signaling optimistic growth despite the layoffs.
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