Bumble, a matchmaking app company, has announced the layoffs of approximately 350 employees as part of a restructuring plan following its quarterly financial report. This accounts for 30% of the total workforce.
The company stated that these layoffs are necessary to align the organizational structure with future plans and to focus on strategic areas for growth.
In the quarterly report, the company posted revenues of $273.6 million, a 13.2% increase from the same quarter the previous year. However, they still reported a loss of $32 million, which is a decrease from the previous year.
Source: CNBC
TLDR: Bumble announces layoffs of 350 employees, accounting for 30% of the workforce, as part of a restructuring plan following a quarterly financial report that showed an increase in revenue but still reported a loss.
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