(RTTNews) - Dating application Bumble Inc. announced on Wednesday a layoff of approximately 240 roles globally, representing about 30% of the company's workforce.
The company stated that the layoff is part of an effort to realign its operating structure and execute its strategic priorities more effectively. As a result, the company expects to incur approximately $13 million to $18 million in non-recurring charges, primarily consisting of employee severance, benefits, and related costs for affected employees.
The company expects that the charges will be incurred primarily in the third and fourth quarters of 2025.
The company expects to achieve up to $40 million of annual cost savings in connection with the global workforce reduction. The company plans to reinvest the substantial majority of these savings in strategic initiatives, including product and technology development.
The company also revised its previously announced financial outlook for the second quarter of 2025. It now expects total revenue between $244 million and $249 million, and adjusted EBITDA between $88 million and $93 million.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
