Bumble (BMBL) shares jumped over 20% Wednesday afternoon after the dating app firm declared in a regulatory filing that it would be laying off roughly 30% of its workforce.
Bumble declared its board on Monday “approved a reduction in the Company’s global workforce by approximately 240 roles” as the firm “realigns its operating structure to optimize execution on its strategic priorities.”
The Austin, Texas-based firm “expects to incur approximately $13 million to $18 million of non-recurring charges” that “will be incurred primarily in the third and fourth quarters of 2025.” The relocates are expected to result in up to $40 million of annual savings.
Bumble also lifted its current-quarter projections for revenue to between $244 million and $249 million, up from the prior range of $235 million to $243 million, and adjusted EBITDA to between $88 million and $93 million, compared to $79 million to $84 million previously.
Bumble shares were up 22% in recent trading to $6.36. Still, they’ve lost more than a fifth of their value this year.
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