Bumble's SHOCK Layoffs: 30% Job Cuts After Stock Plummets 90%

2025-06-26 06:00:54.632

Bumble, the dating app whose stock has lost 90% of its value since its 2021 IPO, is laying off 30% of its workforce, or 240 employees. This move, announced in a regulatory filing, aims to save $40 million annually and allow reinvestment in new products and tools. The company states that this restructuring is to better focus on strategic priorities. The layoffs come amid growing frustration among younger users and declining revenue. Bumble's recent quarter saw an 8% drop in revenue and a 1% decrease in premium subscribers. Founder Whitney Wolfe Herd has returned to the company, acknowledging its struggles. While Bumble's stock rose 17% upon the layoff announcement, the news highlights challenges faced by online dating companies. Competitors like Match Group (Hinge and Tinder) are also struggling, with Match Group recently laying off 13% of its workforce. In contrast, Grindr, an LGBTQ+ dating app, has seen its stock grow by over 115% in the past year, demonstrating success by expanding beyond its initial hookup-centric model.