Bumble to lay off 30% of its workforce

Dating app Bumble announced on Wednesday that it’s laying off 30% of its workforce, impacting around 240 positions. The company said in a securities filing that the cuts are part of its plans to realign its “operating structure to optimize execution on its strategic priorities.”Bumble anticipates saving $40 million per year as a result of the workforce reduction and plans to reinvest most of this money into product and technology development. The company said it will incur approximately $13 million to $18 ...