new York
Cnn
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Bumble, the besieged meeting application whose stock has lost 90% of its value since become public in 2021has removed 30% of his workforce.
The company announced on Wednesday in a regulatory file that layoffs amounted to 240 positions and will save 40 million dollars per year. The reduction of the workforce “realign its operating structure to optimize execution on its strategic priorities”, the company reinvesting a “substantial majority” of the money saved in new products and tools.
This is the latest warning sign that young users become frustrated and abandon online meetings, forcing businesses like Bumble to search New ways of innovatingIn particular by emphasizing the use of artificial intelligence to find matches.
“These decisions have not been taken lightly, and we are deeply grateful for the contributions of each employee affected,” a spokesperson for Bumble in a statement in CNN. “Our goal is now to go from the front in a way that strengthens our main activities, continues to serve our members effectively and positions us for future growth.”
Bumble’s actions have collapsed since the start of the public four years ago, which prompted the founder Whitney Wolfe Herd to return in company in March after a two -year interruption.
The herd was frank in an interview with the New York TimesSaying that Bumble “needs me in return” and that “looking at him falling from his peak was very difficult”.
Revenues decreased by almost 8% in the last quarter of Bumble, and subscribers paid by the premium decreased by 1%. The company will publish its next report on results in August.
The news of the layoffs sent to Bumble (Bmbl) storage approximately 17% higher.
Beyond Bumble, rivals like the applications of match groups and Tinder are also in difficulty. In May, the company reduced its staff by 13%, amounting to around 300 employees. Tinder deploys new features to keep the users committed, including a “double date” feature that allows users’ friends to combine themselves and go to group dates.
However, there is a successful meeting company. Grindr, the LGBTQ +oriented application, saw its shares increase by more than 115% in the past year. It evolves beyond its format of connection grid based on location with new features Aiming to make it a more formal dating application – an offer to extend its user base and attract more advertisers.