The Bumble app is displayed on a smartphone in New York on Nov. 6, 2023.
Gabby Jones | Bloomberg | Getty Photos
Bumble on Tuesday introduced plans to put off round 350 workers, or about 37% of its workforce, as a part of a restructuring plan.
The corporate mentioned the layoffs will assist drive stronger working leverage and align its working mannequin with “future strategic priorities,” based on its fourth-quarter report. Bumble had greater than 950 full-time workers as of December 31, 2022, based on a submitting with the U.S. Securities and Trade Fee.
The relationship app reported $273.6 million in income for the quarter, up from the $241.6 million it reported in the identical interval final 12 months. Bumble posted a internet lack of $32 million, or a lack of 19 cents per share, in comparison with the year-ago quarter, when the corporate reported a internet lack of $159.2 million, or 35 cents per share.
Shares of Bumble fell greater than 8% in after-hours buying and selling Tuesday.
Bumble CEO Lidiane Jones mentioned in an announcement that the corporate is taking “vital and decisive” motion to speed up its product roadmap.
“We consider these actions will strengthen our foundational capabilities and allow us to proceed delivering new and interesting consumer experiences that create wholesome and equitable relationships,” Jones mentioned within the launch.
Bumble is the newest firm within the tech sector to announce cuts in latest months, as traders proceed to push for effectivity. Firms like Google and Amazon have continued to trim headcount, and greater than 170 tech corporations have lower almost 44,000 jobs, based on Layoffs.fyi, an trade tracker.
