Bumble, the popular global dating app, has announced plans to lay off 30% of its workforce, a move that led to a 25% surge in its stock price. According to a securities filing, the layoffs will impact approximately 240 employees. The company’s stock, which peaked following its 2021 IPO, has faced challenges in recent years but saw a sharp rebound after news of the layoffs broke.
The restructuring is expected to cost between $13 million and $18 million in Q3 2025 but is projected to generate $40 million in annual savings. Bumble’s market capitalization, once valued at $7.7 billion in 2021, has fallen to approximately $673 million as of Wednesday’s market close.
In a statement, Bumble expressed its regret over the decision, offering thanks to the departing employees and reiterating its focus on strengthening its core business and future growth.
Whitney Wolfe Herd, Bumble’s founder, returned as CEO in early 2025, after stepping down in 2024. Her reappointment comes as the dating app industry faces sluggish growth. Competitors like Match Group have also seen stock declines and executed mass layoffs, including a significant cut in May.
CWEB Business Analysts note that dating apps are struggling to retain user engagement, forcing companies to explore AI integration, restructuring, and innovative growth strategies to remain competitive.
For more updates, stay tuned to CWEB Business News.
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