Bumble to lay off 30% of global workforce as online dating industry struggles
Bumble said on Wednesday it would lay off nearly a third of its workforce, the latest cuts in the dating app industry as firms struggle to develop features that will keep users spending amid economic uncertainty.
The move, which will affect 240 roles, or 30% of Bumble's staff, is part of a broader effort to revamp the platform as the industry grapples with declining user engagement. Rival Match also announced a 13% workforce reduction last month.
Shares of Bumble rose 22% in early trading, but they are still down by about a fifth for the year.
The company's market value has shrunk to a little over $500 million from a peak of around $15 billion when it went public in 2021, LSEG data shows.
Online dating firms have struggled in recent years to keep their audiences, especially Gen Z users, swiping on their apps, leading to management overhauls and pressure from activist investors.
Match in February appointed Spencer Rascoff as its new CEO, signaling a fresh direction for the company.
For Bumble, the cuts come three months after founder Whitney Wolfe Herd reassumed the role of CEO, promising the company's performance by focusing on match-making quality.
In an early sign the efforts were working, Bumble on Wednesday 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.
The company also met Wall Street expectations for first-quarter revenue in May even as it posted a 7% decline.
Bumble said it will incur about $13 million to $18 million in layoff-related charges, primarily in the third and fourth quarters of 2025.
It expects to save about $40 million of annual costs, which it plans to reinvest in initiatives such as product and technology development.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
43 minutes ago
- Time of India
From burnout to career stagnation: 7 reasons why young employees are walking away from in-office jobs
7 reasons young employees are walking away from in-office jobs The 'Great Resignation' may have peaked in headlines, but its underlying forces are still in motion—especially among young professionals. Across industries, Gen Z and millennial workers are leaving jobs not just for better pay, but for better lives. They're no longer willing to tolerate outdated practices, toxic environments, or empty promises. This isn't about impatience—it's about priorities. Today's young workforce is highly aware of their value and unafraid to seek employers who align with their expectations for growth, wellbeing, and purpose. Let's take a closer look at the top seven reasons why so many young professionals are saying 'I quit.' 1. Burnout is a breaking point Many young employees aren't just tired—they're overwhelmed. The lines between personal life and professional responsibilities have blurred, especially in hybrid and remote work settings. Long hours, constant notifications, and the pressure to always be 'on' have created a culture of chronic fatigue. Deloitte's 2024 Gen Z and Millennial Survey found that nearly half of Gen Z workers feel stressed or anxious most of the time, and this is taking a real toll on productivity and wellbeing. For many, quitting becomes the only viable path to recovery. Rather than pushing through for the promise of future rewards, young professionals are choosing to protect their mental health—sometimes by stepping away entirely. Quitting is no longer seen as failure, but as a form of self-preservation. 2. Saying no to toxic culture Workplace culture isn't judged by company slogans—it's measured in daily interactions. Young employees are acutely sensitive to environments that feel unsafe, exclusive, or performative. Whether it's being dismissed in meetings, witnessing favoritism, or enduring silent hostility, they recognize toxicity quickly—and they don't stick around. Culture is no longer 'nice to have.' For this generation, it's non-negotiable. If the culture lacks respect, transparency, and inclusion, even the best perks won't keep them from walking away. 3. Empty career growth promises Today's young professionals are eager to grow—but they're also quick to spot dead ends. Many roles promise 'great growth opportunities,' but offer little more than lateral tasks and vague feedback. Without access to real mentorship, skill-building, or advancement, motivation quickly fades. At the same time, many feel underpaid for the value they bring, especially in fast-paced, high-output roles. For young workers, growth isn't just about promotions—it's about learning, evolving, and being treated as a long-term investment, not an expendable resource. 4. Lack of flexibility is a step backward The pandemic reshaped how work fits into life—and young employees took notice. Remote work showed that performance isn't tied to physical presence. So when employers issue return-to-office mandates or enforce rigid hours without clear rationale, it feels like a step backward. Flexibility is now seen as a baseline expectation. Whether it's location, hours, or workflow autonomy, the message is clear: if your policies can't bend, your talent will break—and leave. 5. Purpose over paychecks For many younger workers, a job must mean something more than a paycheck. They want to work for organizations that reflect their values—on climate, diversity, ethics, and community. But when companies fail to act on these values internally—or treat them as PR tools—trust erodes. This generation is adept at spotting performative efforts, and they're not afraid to exit quietly (or loudly) when they sense a disconnect between what a company says and what it does. Purpose isn't fluff. It's a filter. 6. Digital overload drives disconnection Despite being digital natives, Gen Z and millennial workers are increasingly overwhelmed by the sheer volume of tools, notifications, and digital 'noise' at work. Slack, email, project boards, virtual meetings—what was meant to make work efficient often makes it chaotic. The result is a state of constant context-switching, fractured focus, and creeping exhaustion. Without intentional workflows and tech boundaries, the digital workplace can feel like a trap, not a tool. And when young employees feel more scattered than supported, they disengage—or disengage entirely. 7. Poor leadership is the final straw The old saying holds true: people don't leave jobs—they leave managers. For young workers, bad leadership isn't just about a tough boss. It's about broken trust, inconsistent feedback, lack of empathy, or the feeling of being managed rather than mentored. When leaders micromanage, fail to communicate clearly, or overpromise and underdeliver, young employees quickly recognize the warning signs. They want clarity, consistency, and collaboration—not power plays or ego-driven decisions. A lack of trust in leadership is often the final push toward resignation. What we're seeing isn't a rebellion—it's a realignment. Young professionals aren't rejecting responsibility. They're rejecting burnout. They're not avoiding loyalty. They're redefining it. Their decisions to walk away reflect a deeper desire for healthy, sustainable, purpose-driven careers. They are no longer willing to trade their wellbeing for a paycheck or stay silent in environments that devalue them. For employers, this isn't a crisis—it's a signal. If companies want to attract and retain young talent, they must go beyond surface-level solutions. That means creating cultures where people feel seen, heard, supported, and challenged in meaningful ways. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
Fibre2Fashion
an hour ago
- Fibre2Fashion
Tariff worries drive US consumer pessimism to 4-year high: Report
Rising tariffs and cost concerns have led to growing financial worry among Americans. According to TransUnion's Q2 2025 Consumer Pulse study, 27 per cent of US consumers feel pessimistic about their finances over the next year—up from 21 per cent in late 2024 and the highest level since tracking began in early 2021. Despite the rise in pessimism, 55 per cent of consumers are optimistic about their household finances over the next 12 months – the same percentage as in Q2 2024. However, optimism has declined from 58 per cent in Q4 2024. The youngest consumers surveyed – Gen Z and Millennials – remain most optimistic about future finances, at 67 per cent and 64 per cent, respectively. The findings are derived from a survey of 2,998 American adults. 'Since early April, there has been a marked increase in the level of uncertainty about future costs primarily due to the ongoing discussions about tariffs,' said Charlie Wise, senior vice president and head of global research and consulting at TransUnion . 'While we've seen a rise in pessimism about future finances, it can't be overstated that the same percentage of Americans are as optimistic about their future finances today as they were at this same time last year. We posit this is happening because of the continued strong employment picture and sustained wage gains. If you have a job and feel like you're likely to get some form of pay increase over the next year, then you also will likely be able to manage through most possible scenarios for increases in the costs of goods and services.' TransUnion's Q2 2025 Consumer Pulse finds 27 per cent of US consumers are pessimistic about their financesâ€'the highest since 2021â€'amid tariff fears and rising costs. While 55 per cent remain optimistic, concerns over inflation, recession, and tariffs are growing. Younger generations are most hopeful, and many tariff-worried consumers plan to seek credit. Nearly nine in 10 Americans (87 per cent) reported some level of concern about the impact of current or possible tariffs on their household finances; 41 per cent said they were very concerned. To that end, the Consumer Pulse study found that consumers now have an increasing interest in securing credit products. Of those consumers who were very concerned about tariffs, 37 per cent planned to apply for new credit or refinance existing credit in the next year, a higher rate than all others (30 per cent) who planned the same. Liquidity credit products which provide access to cash, including credit cards and personal loans, appeared to be a greater preference for those who are tariff concerned. Specifically, this group is interested in increasing available credit on existing credit cards, applying for a personal loan and using buy now, pay later payment services. 'When there is uncertainty in the market, this often results in consumers seeking new credit to ensure they are prepared for any future financial hurdles. While it's not clear just how much of an impact tariffs will have on consumer wallets, it is clear that those consumers who are most concerned about them are more likely to be preparing for the future through myriad credit options,' said Wise. While inflation continues to be the top financial concern of Americans – 81 per cent ranked it as a top 3 concern in the next 12 months – there was a pronounced increase in fears of a recession. This metric jumped seven percentage points from Q2 2024 with 52 per cent saying it was in their top 3 financial concerns over the next 12 months — its highest level in two years. In Q4 2024, fears of a recession stood at 43 per cent. 'Fears of a recession should never be discounted. However, history has a way of repeating itself. To this end, consumers are being pragmatic and considering the news of the day. As tariff discussions bring uncertainty, so do increased fears of economic setbacks. Yet, just like we saw in the second quarter of 2023, there are a lot of positives about the economy and the consumer credit market at-large. One thing is certain – we should expect to see more shifts in consumer sentiment in the coming months,' concluded Wise. Fibre2Fashion News Desk (RR)
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Flipkart bets on livestreaming and videos to win over online shoppers
Flipkart sees video commerce as a key strategy, with two-thirds of Gen Z using videos to shop. Usage is also surging in tier-II and III cities, where video-led formats are gaining rapid traction New Delhi Walmart-owned e-commerce major Flipkart is leaning heavily into social video and livestreaming to attract young shoppers who are glued to their smartphones. The move reflects a broader strategy of the company to seek long-term customer loyalty by making online shopping more immersive and interactive. Online shopping with live commerce Using videos to display and promote products has become one of the company's key new strategies, Neha Agrahari, a director at Flipkart told Bloomberg News. 'Users prefer to watch a video and make a decision' when shopping, she said. Agrahari believes video commerce is a natural progression, particularly with two-thirds of Gen Z consumers now favouring this style of shopping. Notably, 65 per cent of video and livestreaming interactions originate from India's tier-III and tier-III cities. What is live commerce? Live commerce merges real-time product purchasing with audience interaction via chat features or reaction buttons. In China, it has revolutionised the retail sector and emerged as a key sales channel. It now plays a central role in marketing campaigns for Singles' Day—a major shopping event in China—and is widely used as an effective digital strategy to enhance customer engagement and drive sales. Competing for e-commerce dominance Though video-based retailing is not new, Flipkart is banking on the format to outperform rivals such as Inc and Reliance Industries Ltd in the highly competitive Indian market. With around 650 million smartphone users in the country—and over 270 million of them shopping online—India has now overtaken the US as the world's second-largest e-retail market. Flipkart's own data shows that video-led engagement is surging. In the first half of 2025, over 200 million users interacted with videos while shopping on its platform, a significant increase from 75 million in the same period last year. Livestreams and influencers drive engagement Flipkart began integrating video content into its app approximately 18 months ago. These videos promote a wide range of products, from sunscreen to electronics. Livestreams also allow users to ask real-time questions and receive responses from influencers and product experts, enhancing the customer experience. This approach mirrors successful models in China and other parts of Asia, where video-driven commerce is widely used. Other Indian players, including Meesho, which is backed by SoftBank Group Corp, are also adopting similar strategies by hiring influencers to promote products ranging from cosmetics to health supplements. Building studios to boost sales Agrahari stated that video-led shopping is already boosting sales in categories like fashion, beauty, personal care, and home decor. The platform now plans to expand this format to electronics and fitness products. To support content creation, Flipkart is constructing physical studios in Gurugram, Mumbai, and Bengaluru. These studios are designed to offer a seamless shooting and editing experience for its video creators, she said. Growth in livestream engagement Engagement with daily livestreams has seen a dramatic increase — up 17 times compared to last year, according to Agrahari. This growth is partly fuelled by practical and engaging product demonstrations. For instance, users test T-shirts by dipping them in water to check for colour fastness or use various foods to assess kitchen appliances' performance.
