(RTTNews) - Bumble Inc. (BMBL), Wednesday announced that its Board of Directors has approved a global workforce reduction of approximately 240 positions, or 30 percent of its staff, as part of a restructuring effort to better align with strategic priorities.
The company expects to incur between $13 million and $18 million in one-time charges, mostly related to severance and benefits, with most expenses anticipated in third and fourth quarters of 2025. The restructuring may extend beyond 2025 in some regions due to local regulations.
Bumble estimates annual cost savings of up to $40 million from the job cuts and plans to reinvest most of these savings into product and technology initiatives. The company also revised its second quarter outlook, projecting revenue between $244 million and $249 million and adjusted EBITDA between $88 million and $93 million. e due to variables like stock-based compensation.
BMBL is currently trading at $6.11, up $0.89 or 17.18 percent on the Nasdaq.
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