Bumble to Cut 30% of Global Workforce as It Tries to Rebuild and Refocus

Dating app giant Bumble is laying off about 240 employees—roughly 30% of its global workforce—as part of a major restructuring aimed at reviving growth and sharpening its business strategy.

The announcement, disclosed in a recent securities filing, comes as the company looks to “realign its operating structure” and redirect resources toward product and technology development. Bumble says the layoffs will ultimately save the company around $40 million annually.

“These decisions were not made lightly,” the company said in a statement Wednesday, expressing gratitude to affected employees. “We are now focused on strengthening our core business and positioning ourselves for future growth.”

A Rebuilding Phase Amid Industry Shifts

Bumble CEO and founder Whitney Wolfe Herd addressed employees directly in a memo, acknowledging the difficult nature of the layoffs. “Bumble, like the online dating industry itself, is at an inflection point,” she wrote. “Rebuilding requires hard decisions.”

Wolfe Herd, who founded Bumble in 2014 after co-founding Tinder, previously served as CEO until stepping down in January 2024. She returned to the role in March to steer the company through a turbulent period.

Timing and Costs Still Unclear

While Bumble hasn’t yet detailed exactly which roles will be cut or when the layoffs will take effect, the company signaled that the process will unfold over the rest of the year. Severance and related costs are expected to total between $13 million and $18 million, with most of the impact showing up in Bumble’s third and fourth fiscal quarters.

Despite the tough news for employees, investors appeared optimistic about the company’s reset. Bumble’s stock surged more than 23% on Wednesday, trading around $6.40 per share. Still, the broader picture is less rosy—the stock is down over 35% in the past year and has plummeted nearly 92% since its public debut in February 2021.

Revenue Still Lagging Behind Expectations

Bumble reported $247 million in revenue for the most recent quarter, a nearly 8% decline compared to the same period last year. Looking ahead, the company expects to bring in between $244 million and $249 million in its upcoming quarter—a slight improvement from earlier forecasts, but still below the $269 million it reported for the same quarter in 2024.

As Bumble reshapes its operations, the company is betting that a leaner workforce and renewed investment in technology will help it rebound in a competitive and rapidly evolving dating app landscape.

Source: AP News – Bumble says it will cut 240 jobs, or about 30% of its global workforce