Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Business

Bumble shares jump 26% as dating company plans to axe 30% of workforce

by admin June 27, 2025
June 27, 2025
Bumble shares jump 26% as dating company plans to axe 30% of workforce

Bumble shares rallied more than 26% on Wednesday after the dating app company revealed in a securities filing that it intends to slash 30% of its workforce, or about 240 roles.

The layoffs will result in $13 million to $18 million in charges for the company hitting in the third and fourth quarters of this year. Management estimates that the reductions will help the company save $40 million annually.

A Bumble spokesperson said in a statement to CNBC that the layoffs were “not made lightly.”

“Our focus now is on moving forward in a way that strengthens our core business, continues to serve our members effectively, and positions us for future growth,” they wrote.

Bumble said the cuts are part of a reconfiguration of its “operating structure to optimize execution on its strategic priorities.” The company plans to invest savings into new product and technology development.

Shares of the dating app company have plunged since their debut on the public markets in 2021. Its market value has plummeted from $7.7 billion to about $538 million as of Tuesday’s close.

Founder Whitney Wolfe Herd, who stepped down as CEO at the beginning of 2024, returned to the role earlier this year.

Along with the job cuts, Bumble updated its previously announced forecast for the current quarter.

The company now expects revenue to range between $244 million and $249 million, and adjusted earnings before interest, taxes, depreciation and amortization between $88 million and $93 million.

That’s up from the $235 million to $243 million in revenue and $79 million to $84 million in adjusted EBITDA forecast with Bumble’s first-quarter results last month.

This post appeared first on NBC NEWS

previous post
Trump’s state visit to the UK to take place this year, says Buckingham Palace
next post
John Ciampaglia: Uranium Turnaround? Spot Price Pop, Stocks and SPUT Raise

Related Posts

Procter & Gamble to cut 7,000 jobs as...

June 12, 2025

Dollar General CEO warns consumers are cash-strapped and...

March 15, 2025

UnitedHealth says it faces DOJ investigation over Medicare...

July 25, 2025

Oil prices rise more than 1% as Israel...

June 21, 2025

Treasury Dept. will not enforce ownership information reporting...

March 4, 2025

OpenAI to release web browser in challenge to...

July 11, 2025

Boeing’s Starliner losses top $2 billion after spacecraft...

February 6, 2025

AMD CEO calls China a ‘large opportunity’ and...

May 8, 2025

How UnitedHealthcare became the face of America’s health...

May 23, 2025

Krispy Kreme stock plunges after doughnut chain pauses...

May 9, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • The Real Drivers of This Market: AI, Semis & Robotics

      August 7, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 7, 2025
    • First Quantum Secures US$1 Billion in Gold Stream Deal with Royal Gold

      August 7, 2025
    • Uranium Energy’s Sweetwater Project Fast-Tracked Under Trump Initiative

      August 7, 2025
    • Productivity Commission Says Trump’s Tariffs Will “Redirect” Others to Australia

      August 7, 2025
    • Crypto Market Update: Bitcoin ETFs Shed US$1.46 Billion Amid Stagflation Jitters

      August 7, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved