Posted 2/28/2024, 12:05:00 AM
Bumble Announces Layoffs, Leadership Changes Amid Slowing Growth and Missed Earnings
- Bumble announced 350 layoffs (37% of workforce) after missing Q4 earnings expectations and weak Q1 forecast
- Company will refocus product roadmap on AI, safety features, and attracting younger users
- Bumble facing slow user and revenue growth, losing ground to rivals like Tinder
- Leadership changes continue after founder Whitney Wolfe Herd stepped down as CEO
- Dating apps struggling overall to convert users, especially younger demographics, into paying subscribers