No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, October 2, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Bumble cut 30% of its workforce—the magnitude of which JPMorgan says ‘comes as a surprise’

by TheAdviserMagazine
3 months ago
in Business
Reading Time: 2 mins read
A A
Bumble cut 30% of its workforce—the magnitude of which JPMorgan says ‘comes as a surprise’
Share on FacebookShare on TwitterShare on LInkedIn



Considering how much dating apps are struggling, Bumble’s announcement via an 8-K filing on Wednesday of a 30% workforce reduction may not seem that shocking. 

But JPMorgan analysts wrote in a Wednesday note the magnitude of the layoffs (which amount to about 240 jobs) “comes as a surprise” because the company had already announced $15 million in operating cuts in the second half of the year, even though management had implied there were likely more cuts to come. Shares of the dating app company soared more than 20% on Wednesday following the news.

Although Bumble cut costs and staff, they are putting most of the savings back into the business, according to JPMorgan, which could be used for product, tech, or other strategic areas. The news also is surprising because that leaves Bumble with little room to make future cuts. 

The decision about the layoffs was “not made lightly,” a Bumble spokesperson told Fortune. 

“We are deeply grateful for the contributions of every employee impacted,” the Bumble spokesperson said. “Our focus now is on moving forward in a way that strengthens our core business, continues to serve our members effectively, and positions us for future growth.”

Dating apps are dying

Like many other dating apps, Bumble has been struggling to retain and acquire users. Gen Zers and millennials have started to shun the apps, which one regards as a “wasteland.” Many of the common complaints with dating apps include just feeling like a number, a lack of luck in finding the right match, and fewer opportunities to meet a partner in real life. 

During Q1, Bumble revenue was down 8% and its average revenue per paying user was down 7.3%. Bumble usership peaked at 58 million users in 2023, but dropped to 50 million in 2024. In late March, Bumble founder Whitney Wolfe Herd returned as CEO after a 14-month hiatus. During her break, she served as board chair while the company’s share price nosedived, younger generations broke up with dating apps, and the industry’s reputation deteriorated.

Even Wolfe Herd admitted the pitfalls of dating apps.

“They are rooted in rejection and judgment,” Wolfe Herd told Fortune’s Most Powerful Women Editor Emma Hinchliffe. “You are judging people, and they are judging you. You’re being rejected, and you’re rejecting. These are not healthy dynamics.”

In turn, Wolfe Herd also told Fortune she plans to overhaul the company and app, a promise partially fulfilled upon the news of layoffs.

The future of Bumble

Bumble also raised its revenue forecast Wednesday, another shocker for the business, JPMorgan said. According to an 8-K filing from Wednesday, Bumble said it expects revenue between $244 million and $249 million for Q2. That’s up from the company’s previous forecast of $235 million to $243 million. 

JPMorgan analysts warned Bumble’s revenue update isn’t a sign online dating trends are improving, and said they expect the company’s year-over-year revenue declines to continue during the second half of the year. 

Still, JPMorgan analysts said they’re “encouraged by the financial discipline Whitney has shown” during her second tenure as CEO, but “remain Underweight-rated with industry trends still challenged and a long way to go to return Bumble app to growth.”



Source link

Tags: BumblecutJPMorganMagnitudesurpriseworkforcethe
ShareTweetShare
Previous Post

What Is a Vocational Expert and How Do They Affect Your Disability Claim?

Next Post

Elon Musk promised a “major rebound” in Tesla sales. But angry Europeans still aren’t buying his cars

Related Posts

edit post
‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

by TheAdviserMagazine
October 2, 2025
0

Ford CEO Jim Farley gathered a host of experts this week to discuss what he calls “the essential economy,” the...

edit post
The NFL is launching professional flag football leagues for both men and women, Commissioner Roger Goodell says

The NFL is launching professional flag football leagues for both men and women, Commissioner Roger Goodell says

by TheAdviserMagazine
October 2, 2025
0

The NFL is set to launch professional flag football leagues for both men and women within the next couple of...

edit post
Nuclear fusion was always 30 years away—now it’s a matter of when, not if, fusion comes online to power AI

Nuclear fusion was always 30 years away—now it’s a matter of when, not if, fusion comes online to power AI

by TheAdviserMagazine
October 2, 2025
0

The breakthrough scientific moment for fusion power—and the potential for nearly limitless electricity from a so-called star in a jar—came...

edit post
Expert breaks down the 2025 tax changes retirees should know

Expert breaks down the 2025 tax changes retirees should know

by TheAdviserMagazine
October 2, 2025
0

Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Retirees face a...

edit post
Biden’s Florida legacy: An economic boom, a magnet for immigrants and a solidly conservative red state

Biden’s Florida legacy: An economic boom, a magnet for immigrants and a solidly conservative red state

by TheAdviserMagazine
October 2, 2025
0

After Paola Freites was allowed into the U.S. in 2024, she and her husband settled in Florida, drawn by warm...

edit post
Suze Orman warns these 4 financial blunders will set you back in a major way

Suze Orman warns these 4 financial blunders will set you back in a major way

by TheAdviserMagazine
October 2, 2025
0

Taylor Hill / Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content...

Next Post
edit post
Elon Musk promised a “major rebound” in Tesla sales. But angry Europeans still aren’t buying his cars

Elon Musk promised a “major rebound” in Tesla sales. But angry Europeans still aren’t buying his cars

edit post
Inside Delta’s Stunning Two-Story Lounge at SEA

Inside Delta’s Stunning Two-Story Lounge at SEA

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
How to upskill accountants in 2025

How to upskill accountants in 2025

0
edit post
‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

0
edit post
Is Your Airbnb Losing Money? Here Are Five Easy Ways to Fix It

Is Your Airbnb Losing Money? Here Are Five Easy Ways to Fix It

0
edit post
Creamy Chicken Gravy and Rice ( Family Dinner Idea)

Creamy Chicken Gravy and Rice ($10 Family Dinner Idea)

0
edit post
Youth Sports, Challenges, Failures, and the Fuel for Life

Youth Sports, Challenges, Failures, and the Fuel for Life

0
edit post
6 Healthcare Stocks Positioned to Soar After Trump-Pfizer Deal

6 Healthcare Stocks Positioned to Soar After Trump-Pfizer Deal

0
edit post
What the government shutdown means for the SEC

What the government shutdown means for the SEC

October 2, 2025
edit post
‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

October 2, 2025
edit post
Creamy Chicken Gravy and Rice ( Family Dinner Idea)

Creamy Chicken Gravy and Rice ($10 Family Dinner Idea)

October 2, 2025
edit post
Dogecoin Consolidates After Recent Rejection, But alt=

Dogecoin Consolidates After Recent Rejection, But $0.32 Retest Looks Inevitable

October 2, 2025
edit post
Deutsche Bank – DBK: Neuer CFO kommt von Morgan Stanley!

Deutsche Bank – DBK: Neuer CFO kommt von Morgan Stanley!

October 2, 2025
edit post
Market Talk – October 2, 2025

Market Talk – October 2, 2025

October 2, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • What the government shutdown means for the SEC
  • ‘I don’t know why I need to go to college’: Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it
  • Creamy Chicken Gravy and Rice ($10 Family Dinner Idea)
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.