(THE POST MILLENNIAL) – On Tuesday, Bumble released its annual earnings report, revealing that the numbers were lower than expected. To tackle a decrease in demand, largely among younger demographics, the dating app announced that it would be laying off a third of its workforce and using the money it saved on salaries to reinvest in areas of the business that would “drive long-term growth.”
“Today, we announced solid full-year results and a bold plan to transform Bumble and lead the company to its next phase of growth and innovation,” CEO Lidiane Jones said in a press release.
“We are taking significant and decisive actions that ensure our customers remain at the center of everything we do as we relaunch Bumble App, transform our organization and accelerate our product roadmap. We believe these actions will strengthen our foundational capabilities and enable us to continue delivering new and engaging user experiences that create healthy and equitable relationships.”
