Popular Dating App, Bumble, Plans Massive Workforce Cut As It Optimizes Execution On Its Strategic Priorities

In an unexpected move signalling the oscillating fortunes of tech giants, dating app Bumble has announced it’s laying off a significant 30% of its workforce. The sweeping restructuring impacts around 240 positions within the company. According to Bumble’s securities filing, the planned cuts are part of a larger initiative to realign its operating structure to optimize execution on its strategic priorities. Bumble anticipates saving a whopping $40 million per year as a result of this workforce reduction and plans to reinvest most of this windfall into product and technology development.

This isn’t the first time Bumble has streamlined its workforce. The last round of layoffs took place in February 2024, when the company axed 30% of its workforce, impacting around 350 employees. As these changes unfold, Bumble has confidently announced an increased second-quarter revenue forecast, with a projected range of $244 million to $249 million, up from the previously forecasted $235 million to $243 million range.

These drastic measures come as Bumble consolidates its strategy following the reappointment of founder Whitney Wolfe Herd as CEO in March. Herd took on the leadership role after a hiatus, citing the firm’s need for her skillset and passion as a key reason for her return. Prior to the reshuffle, Bumble reported weak first-quarter earnings that fell by 7.7% year-over-year.

The move underscores the high-stakes environment of tech platforms as Bumble’s competitor, Match, that owns rival apps like Tinder and Hinge, has also felt the crunch. Last month, Match announced it was laying off 13% of its staff to reduce costs and streamline its organisational structure. As these companies navigate the fast-evolving digital landscape, they continue to grapple with the economic realities of their ambitious growth trajectories.