June 25 (UPI) -- Bumble, the company that produces the online dating app designed to empower women, on Wednesday announced it is laying off 30% of its staff in a bid to reverse financial problems.
The company, which is based in Austin, Texas, announced the reduction of 240 positions at a saving of $40 million, with reinvestment of most of that money into product and technology development as it "realigns its operating structure to optimize execution on its strategic priorities," according to a Securities and Exchange Commission filing.
Bumble said it will incur $13 million to $18 million of nonrecurring charges, mainly related to severance, benefits and associated costs for affected employees in the third and fourth quarters of 2025.
Bumble, which also runs Official, Badoo, Fruitz and other dating apps, announced it is increasing its second-quarter revenue forecast to $244 million to $249 million, up from the previously forecast $235 million to $243 million.
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