Dating app company Bumble announced Wednesday it was laying off 30% of its staff, amounting to about 240 of its 800 employees around the world.
The Austin-based company said it would reinvest the estimated $40 million it expects to save with the layoffs into developing new technology and products.
The announcement came at the same time Bumble said it was increasing its second-quarter revenue forecast to between $244 million and $249 million, up from the earlier forecast of $235 million to $243 million.
“The reality is, we need to take decisive action to restructure to build a company that’s resilient, intentional and ready for the next decade,” Bumble CEO Whitney Wolfe Herd, who also co-founded Tinder, wrote in an email to staff.
“In recent months, we’ve been rebuilding — returning to what makes us trusted, unique and deeply human,” she said. “But intentional rebuilding requires hard decisions.”
In a securities filing, the company estimated it would incur between $13 million to $18 million in costs related to severance and extended benefits for the employees affected by the layoffs.
The company previously laid off around 350 workers in January 2024, which similarly amounted to 30% of its workforce at the time.
Match, which owns the dating apps Tinder and Hinge, announced layoffs in May amidst struggles to attract and retain young users.
