Bumble Slashes Over 30% Headcount: What Does This Mean For Tech Investors?



Bumble Inc. (NASDAQ:BMBL), the dating and social networking app, plans to lay off approximately 350 employees, constituting over 30% of its workforce.

The decision was revealed as part of the company’s fourth-quarter earnings report.

News of the layoff at Bumble comes amid a broader trend in the tech sector:

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) reportedly let go of over 1,000 staff members, marking the largest layoff since January 2023. Severance costs are expected to hit $700 million in March.
Amazon.com Inc (NASDAQ:AMZN) cut about 27,000 jobs in 2022 and more are on the way, despite record profits.
Sony Group Corp (NYSE:SONY) cut approximately 900 employees or about 8% of its global PlayStation workforce.
PayPal Holdings, Inc (NASDAQ:PYPL) initiated company-wide layoffs, impacting around 9% of its workforce, or approximately 2,500 employees.
Block Inc.‘s (NYSE:SQ) layoffs are expected to affect over a thousand employees.
Microsoft Corp (NASDAQ:MSFT) recently announced layoffs for its recently acquired …

Full story available on Benzinga.com


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