Bumble Shares Jump on Announced Layoffs

Dow Jones

Jun 26

By Denny Jacob

Bumble shares jumped 22% after the online-dating company announced it will lay off about 30% of its employees, or roughly 240 workers, as it aims to realign its operating structure.

Shares were trading around $6.34. The stock is down 22% on the year.

The Austin, Texas-based company on Wednesday said it expects up to $40 million in annual cost savings in connection with the workforce reduction. It also anticipates incurring between $13 million and $18 million of nonrecurring charges tied to the layoffs, largely in the third and fourth quarters.

"The magnitude of today's workforce reduction comes as a surprise, but Bumble is re-investing most of the savings, and we think there is limited scope for incremental cuts with Bumble now operating at a margin level similar to larger peer Match Group," JPMorgan analysts Cory Carpenter and Daniel Pfeiffer said in a research note.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

June 25, 2025 13:19 ET (17:19 GMT)

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