Bumble to lay off 350 employees as tech industry job cuts mount

Bumble has announced plans to lay off about 350 employees, approximately 37% of its workforce. This decision is part of a restructuring plan aimed at driving stronger operating leverage and aligning the company’s operating model with future strategic priorities. The layoffs were announced in Bumble’s fourth-quarter report. The company had over 950 full-time employees as of December 31, 2022. Despite the layoffs, Bumble reported a revenue of $273.6 million for the quarter, up from the $241.6 million reported in the same period last year. However, the company posted a net loss of $32 million.

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