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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 about 350 staff as a part of a restructuring plan. An organization spokesperson mentioned the cuts quantity to about 30% of Bumble’s workforce.
Bumble mentioned the layoffs will assist drive stronger working leverage and align its working mannequin with “future strategic priorities,” in response to its fourth-quarter report. Bumble had greater than 950 full-time staff as of Dec. 31, 2022, in response to a filing with the U.S. Securities and Alternate Fee. The spokesperson mentioned the most recent annual report shall be printed later this week.
The relationship app reported $273.6 million in income for the quarter, up from the $241.6 million in the identical interval final yr. 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 a press release that the corporate is taking “vital and decisive” motion to speed up its product roadmap.
“We imagine these actions will strengthen our foundational capabilities and allow us to proceed delivering new and fascinating person experiences that create wholesome and equitable relationships,” Jones mentioned within the launch.
Bumble is the most recent firm within the tech sector to announce cuts in current months, as buyers proceed to push for effectivity. Firms akin to Google and Amazon have continued to trim headcount, and greater than 170 tech corporations have minimize practically 44,000 jobs, in response to Layoffs.fyi, an business tracker.
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