Bumble to lay off 30% of workforce as dating company moves to slash costs
CBSN
Bumble will lay off roughly 30% of its workforce, or 240 employees, according to a regulatory filing filed by the online dating company on Wednesday.
The jobs cuts come as the company moves to reduce costs and refocus on growing its customer base. Bumble estimates the layoffs, which are slated to take place in the second half of the year, will save $40 million. The Texas-based company said it will reinvest most of that money into "product and technology development."
In announcing the decision to staff on Wednesday, Bumble CEO Whitney Wolfe Herd, who also co-founded Tinder, said the online dating business as is at an "inflection point."
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