Bumble to lay off 30% of global workforce
The Bumble Inc. (BMBL) app is shown on an Apple iPhone in this photo illustration as the dating app operator made its debut IPO on the Nasdaq stock exchange February 11, 2021. REUTERS/Mike Blake/Illustration
(Reuters) -Dating application Bumble said on Wednesday it will lay off about 240 roles or 30% of its global staff.
Shares of the company rose 12% in premarket trading following the announcement.
Bumble said it will incur non-recurring charges of about $13 million to $18 million for employee severance, benefits and related charges, primarily in the third and fourth quarters of 2025.
The company expects to save about $40 million of annual cost savings, which it plans to reinvest in initiatives such as product and technology development.
The company also raised its second-quarter revenue forecast to a range of $244 million to $249 million, up from the prior view of $235 million to $243 million.
(Reporting by Kritika Lamba in Bengaluru; Editing by Devika Syamnath and Shreya Biswas)
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