Bumble Announces 30% Job Cuts as It Raises Quarterly Outlook

Bumble Inc. said it’s cutting almost one-third of its staff, months after founder Whitney Wolfe Herd returned as chief executive officer to overhaul the struggling dating app.

The Austin-based company will eliminate around 240 roles globally, or about 30% of its workforce, it said in an exchange filing Wednesday. It expects to achieve as much as $40 million in annual cost savings from the reductions, and plans to “reinvest the substantial majority” of those savings in “strategic initiatives including product and technology development.”