Bumble reducing global workforce by about 30%

In a regulatory filing, Bumble (BMBL) disclosed that on June 23, the board of directors of the company approved a reduction in the company’s global workforce by approximately 240 roles, representing approximately 30% of the company’s employees, as the company “realigns its operating structure to optimize execution on its strategic priorities.” As a result, the company expects to incur approximately $13M-$18M of non-recurring charges, consisting primarily of employee severance, benefits, and related charges, for impacted employees. “Substantially all of these charges are expected to result in future cash outlays. The company expects that the charges will be incurred primarily in the third and fourth quarters of 2025. The actions associated with the elimination of positions are subject to local law and consultation requirements in certain countries, which may extend this process beyond the fourth quarter of 2025. The company expects to achieve up to $40 million of annual cost savings in connection with the global workforce reduction,” the filing stated.