Agency Of Income
  • World News
  • Stocks
  • Business
  • Politics

Agency Of Income

  • World News
  • Stocks
  • Business
  • Politics
Business

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

by admin June 26, 2025
June 26, 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
Women’s Tennis Association extends media rights deal with Tennis Channel through 2032
next post
Find Highest Probability Counter-Trend Setups

Related Posts

Sports executive charged with bid-rigging in Texas arena...

July 10, 2025

From American Eagle to Swatch, why brands seem...

August 25, 2025

Retail panic: What the end of the ‘de...

August 29, 2025

Nationwide coordinated retail crime crackdown results in hundreds...

June 4, 2025

Kenvue stock drops 10% on report RFK Jr....

September 8, 2025

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Small-business AI use is lagging, but one firm...

June 25, 2025

Clean energy stocks fall as Trump bill would...

July 1, 2025

A flagging U.S. industry looks for new life...

July 18, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

    Get free access to all of the retirement secrets and income strategies from our experts!

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

    Latest News

    • Newsom and Harris both position themselves as potential 2028 White House contenders

    • Federal workers brace for missed paycheck as shutdown enters 5th week

    • Hamas says it will hand over another hostage body, as Trump’s 48-hour warning looms

    • Hamas hands over hostage’s body to Israel as Trump’s 48-hour warning nears

    • Shutdown crushes small business owners as losses hit billions — industry leaders beg Congress for ‘clean CR’

    • Progressive power players rally voters for Zohran Mamdani as early voting kicks off in NYC mayoral race

    Categories

    • Business (173)
    • Politics (20)
    • Stocks (112)
    • World News (706)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: AgencyOfIncome.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 agencyofincome.com | All Rights Reserved