Dana Point, California – September 27: Whitney Wolfe Herd, founder and general director, Bumble speaks on stage during the 2023 VOX Media code in Ritz -Carlton, Laguna Niguel on September 27, 2023 at Dana Point in California. (Photo of Jerod Harris/Getty Images for Vox Media)
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Bumble Actions gathered over 26% on Wednesday after the dating company revealed itself in Submitting securities that it intends to lower 30% of the workforce or about 240 roles.
Exemptions will bring from 13 million to $ 18 million fees for a company reaching the third and fourth quarter of this year. Management estimates that reductions will help the company save $ 40 million a year.
Bumble said that cuts are part of the reconfiguration of “the operational structure to optimize its strategic priorities.” The company said that it is planning to invest savings in the development of new products and technologies.
Actions Dating application The company has fallen since the debut on public markets in 2021. Its market value dropped from $ 7.7 billion to around $ 538 million from on Tuesday.
Founder Herd Whitney Wolfewhich gave way as CEO At the beginning of 2024 he returned to the role this year.
Along with the reduction of jobs, Bumble updated the previously announced forecast for the current quarter.
The company now expects revenues from 244 to 249 million USD, and the EBITDA corrected from 88 to 93 million USD.
This is an increase from 235 million to $ 243 million revenues and from $ 79 to $ 84 million of the corrected EBITDA forecast with the results of the first quarter of Bumble last month.