Bumble Will Lay Off 30 Percent Of Its Employees Globally

JAKARTA Bumble said it would cut the number of its employees. The company will lay off nearly a third of its total workforce.

This layoff (PHK) will have an impact on 240 workers from various positions or about 30 percent of the total number of staff. This cut had to be done because the dating app industry was facing economic uncertainty.

The news of this layoff was revealed when Bumble was developing many new features. The new features also continue to be developed so that users continue to shop on their platform even though the global economic situation is unstable.

M Science Chandler analyst Willison, reported by Reuter, stated that this layoff was part of Bumble's new strategy. By reducing the number of employees, Bumble will focus on optimizing the user experience.

Bumble realized that they needed to spend more during layoffs. The company expects to cover layoff costs of around US$13 million (Rp210 billion) to US$18 million (Rp292 billion).

Although the funds spent are not small, Bumble hopes that they can save an annual fee of around US$40 million (Rp649 billion). This fund is planned to be reinvested for product and technology development.

After the information about this layoff was disclosed, Bumble's shares increased by 19 percent. In line with this increase in share prices, the market value shrank by about a fifth to slightly above 500 million US dollars (Rp8.1 trillion).