Bumble sacks hundreds of staff as Gen Z dumps dating apps
Young people across the UK may be hoping for their own summer of love. Yet, it turns out, few of them will be using dating apps to find a partner.
Matchmaking service Bumble has revealed plans to cut a third of its staff as Gen Z embraces old-school ways of scoring a date.
The company behind the UK's third most-popular dating app warned that the industry was at an 'inflection point', weeks after revealing falling sales.
Bumble, which is headquartered in Texas and has offices in London, told investors it would axe 240 jobs with the hope of saving $40m (£29.4m) a year. It said the restructure would cost it up to $18m this year.
It comes amid growing dating app fatigue. The apps, which include Tinder and Hinge, peaked during the pandemic as people turned to smartphones as a way to escape isolation.
Over five years, Bumble's share price has plunged 92pc, while Match Group, the owner of Tinder, has fallen 68pc.
Whitney Wolfe Herd, the Bumble chief executive who also co-founded Tinder, told staff on Wednesday: '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.
'We've reset our strategy, and are going back to a start-up mentality – rooted in an ownership mindset and team structures designed for faster, more meaningful execution.'
'Novelty wearing off'
Bumble's announcement follows a warning from market leader Tinder, which said that Gen Z were seeking a 'more authentic way to find connections'.
Last November, Ofcom revealed that use of most popular dating apps in the UK had fallen last year, with Bumble losing 368,000 users, a dip of 2.3pc. The watchdog said: 'Some analysts speculate that for younger people, particularly Gen Z, the novelty of dating apps is wearing off.'
Research from Ipsos found that 63pc of men and 66pc of women between the ages of 16 to 24 prefer meeting potential partners in real life rather than through an app. Just 10pc of those men and 7pc of those women prefer dating apps.
Use of dating apps is skewed away from women, who account for just 35pc of users, according to Ofcom. Some women avoid the apps amid concerns over safety and repeated unwanted contact from men.
Meanwhile, apps are struggling to keep users engaged, with researchers suggesting that young people are becoming more traditional by choosing potential dates through sports clubs and mutual friends. However, there has also been a rise in dating with people met through online gaming.
Hobby apps such as Strava, which has social networking features for runners, are also being used to find partners.
Research from Virgin Media found that 70pc of Britons dislike dating apps, and that 51pc would prefer to meet a partner through multiplayer computer games.
Luke Brunning, a specialist in the philosophy of romantic life at the University Leeds, told The Guardian: 'There is a growing romanticisation of in-person meeting and interaction. Very few [young people] are turning to the apps as an exclusive means of setting up an in-person meeting. It's much more fluid now.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
24 minutes ago
- Reuters
UK joins WTO trade arbitration alternative
GENEVA, June 25 (Reuters) - The United Kingdom has become the latest country to join an alternative mechanism for resolving disputes to the World Trade Organization, it said in a statement on Wednesday. The World Trade Organization's top appeals body has been inactive since 2019, after President Donald Trump, during his first term, blocked new appointments to the top appeal's court. That left the WTO's key dispute settlement system only partially functional, as the Appellate Body no longer had enough members to hear cases. Washington had accused the WTO Appellate Body of judicial overreach in trade disputes. The U.K. announced the decision on Wednesday as part of its new trade strategy, which it said will protect and boost British business amid a turbulent economic situation, resurgent protectionism and unfair trading practices. "The UK will join the Multi-Party Interim Appeal Arbitration Arrangement (MPIA)...demonstrating our commitment to an effective rules-based international trading system," the Department of Business and Trade said in a statement. Sixteen WTO members established the separate appeals mechanism for trade disputes in March 2020 as an alternative temporary arbitration arrangement for resolving WTO disputes that are appealed by a member while the WTO Appellate Body is not operational. The MPIA currently has 56 members, according to the MPIA website, opens new tab, including the European Union, Canada and Brazil. The decision comes one week after British Prime Minister Keir Starmer and Trump signed an agreement formally lowering some tariffs on imports into the U.S. from Britain as the countries continue working toward a formal trade deal. Britain had avoided tariffs of up to 50% on steel and aluminium that the U.S. imposed on other countries earlier this month, but it could have faced elevated tariffs starting July 9 unless a deal to implement the tariff reduction was reached.
South Wales Guardian
27 minutes ago
- South Wales Guardian
UK energy and steel to be classed as ‘nationally important' in procurement shift
Public sector buyers would be able to avoid normal requirements to consider overseas bidders and instead give priority to domestic firms under the plans set out in a consultation launching on Wednesday. Ministers would be allowed to designate sectors such as steel, energy and cyber nationally important in order to help grant them more of the £400 billion spent on procurement each year, the Government said. Chancellor of the Duchy of Lancaster Pat McFadden said the proposals would ensure British industry was supported and 'boost growth'. 'The new rules being considered will give us the power to protect our national industries, ensuring more money goes to them as we buy goods and services in Government,' he said. The Government said the new rules will also ensure buyers exclude companies that cannot provide evidence of a good record of paying companies in their supply chains promptly and on time in a move to protect small businesses. New guidance will also require Government departments to consider British steel products for the £725 billion of UK infrastructure spending over the next 10 years announced in the industrial strategy on Monday. UK Steel welcomed the proposals, describing them as 'unequivocally positive news' that would help safeguard jobs in the industry. Director general of UK Steel, Gareth Stace, said: 'These changes rightly recognise the strategic importance of steelmaking to national security and the vital role of resilient domestic supply chains.' It comes as the industry faces uncertainty over the US-UK trade deal finalised this month, which slashed tariffs on aerospace and auto sectors but left levies on steel standing at 25% rather than falling to zero as originally agreed. The Government has said both sides have agreed to 'make progress towards 0% tariffs on core steel products' in ongoing talks.
The Sun
34 minutes ago
- The Sun
Ban on alcohol adverts considered by ministers sparking fury from industry who say it will be ‘hammer blow to firms'
A BAN on prime-time alcohol ads is being considered by ministers. But NHS chiefs' call for minimum prices for booze looks to have been sunk. Proposals for a ban on ads — such as David Beckham' s for Stella Artois — are in the draft of a ten-year health plan. An industry source warned: 'This will be a hammer blow to firms and there will be knock-on effects for struggling pubs. "Ministers must think of unintended consequences.' Shadow Business Secretary Andrew Griffith said: 'This is nothing but nanny statism from an incompetent Labour government waging war on pubs. 'This would be the final nail in the coffin for many.' The British Beer and Pub Association said: 'With over 80 per cent consuming alcohol within Government guidelines, any proposed measures must focus on helping the minority who drink at harmful levels.' Another insider said: 'This could also have a major impact on sports like rugby league which has a partnership with a beer firm. "This will go down like a dodgy meat pie.' Last night, the Government said: 'The ten-year health plan will not include a ban on alcohol advertising. "We are exploring options for partial restrictions to bring it closer in line with advertising of unhealthy food.' David Beckham meets 'long-lost twin brother' Hollywood star in Super Bowl advert for Stella Artois Junk food ads are to be banned between 5.30pm and 9pm from October. Meanwhile, minimum pricing was suggested as a way to cut the estimated £20billion a year bill for alcohol harm, crime and disorder, in England alone. But sources say it is now unlikely to be implemented.
