Bumble Lays Off 37% of Workforce Amid Tech Industry Downturn
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Bumble is laying off 350 workers, about 37% of its workforce, to "align operating model with future priorities" and "drive stronger operating leverage"
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Cuts add to over 45,000 tech job losses tracked since the start of 2023 amid industry downturn
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Goal is to reduce company size and structure to "accelerate how quickly we innovate and go to market" per CEO
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Severance pay, bonuses, healthcare stipends and other support offered to impacted employees
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Company estimates $20-25 million in costs related to layoffs, mostly in Q1 and Q2 2024