The dating app Bumble is laying off 30% of its global workforce.
The company had already announced a staffing reduction of 13% last month, Reuters reported.
About 240 employees will be affected, The Wall Street Journal reported.
Bumble CEO Whitney Wolfe Herd said the “layoffs reflect Bumble’s new strategy of optimizing for user experience rather than revenue or user growth in the short term.”
Reuters said that dating apps have been having trouble keeping users, especially Gen Z customers. Match has already undergone a management change under pressure from investors.
“Bumble, like the online dating industry itself, is at an inflection point,” Wolfe told employees in a letter, according to The Wall Street Journal. “The reality is, we need to take decisive action to restructure to build a company that’s resilient, intentional, and ready for the next decade.”
The layoffs will cost between $13 million and $18 million in the third and fourth quarters but will save about $40 million overall, Reuters reported.
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