Bumble announced that it expects to incur one-time charges between $13 million and $18 million related to employee severance, benefits, and associated expenses
Dating application Bumble Wednesday announced it will lay off about 240 roles or 30% of its global staff, reports news agency Reuters. After the mass layoff announcement, shares of the company rose 12 percent in pre-market trading. Bumble announced that it expects to incur one-time charges between $13 million and $18 million related to employee severance, benefits, and associated expenses, primarily during the third and fourth quarters of 2025. The company anticipates these restructuring costs will lead to approximately $40 million in annual savings, which it plans to reinvest in areas such as product innovation and technology development. Alongside the announcement, Bumble raised its revenue outlook for the second quarter, projecting between $244 million and $249 million鈥攗p from its earlier forecast of $235 million to $243 million.Last year in February, Bumble laid off approximately 350 employees, constituting about 37% of its workforce in response to a disappointing first-quarter revenue and a challenging environment characterised by a slowdown in user spending.(With inputs from Reuters)(You can now subscribe to our Economic Times WhatsApp channel)
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