Bumble (NASDAQ:BMBL) shares climbed 13% following the company’s announcement of plans to cut approximately 240 jobs worldwide, amounting to about 30% of its workforce.
In a regulatory filing, Bumble revealed that its Board of Directors approved the layoffs on June 23, 2025, aiming to “realign its operating structure to better focus on strategic priorities.” The company expects to incur one-time costs between $13 million and $18 million related mainly to severance payments, benefits, and other associated expenses.
These expenses are anticipated to be recorded primarily in the third and fourth quarters of 2025, with most of the costs resulting in actual cash payments. The company also noted that in some countries, the reduction process might extend beyond the fourth quarter due to local labor consultation rules.
Bumble expects to save up to $40 million annually from the workforce cuts and plans to reinvest most of these savings into strategic growth areas such as product development and technology.
Alongside the workforce update, Bumble raised its second-quarter 2025 financial guidance, projecting total revenue between $244 million and $249 million, with adjusted EBITDA forecasted between $88 million and $93 million. This is an upgrade from the previous outlook of $235 million to $243 million in revenue and $79 million to $84 million in adjusted EBITDA.
In a message to staff, Founder and CEO Whitney Wolfe Herd acknowledged the tough decision but emphasized its necessity. She described the company’s current position as “an inflection point for Bumble and the entire online dating sector,” highlighting a shift towards a “start-up mentality” focused on “core product innovation” and becoming “more nimble, decisive, and faster-moving.”