Dating app Bumble is cutting nearly a third of its workforce, about 240 jobs, to reduce costs by $40 million annually. CEO Whitney Wolfe Herd cited industry pressures and an inflection point in the dating sector. The move follows declining share value and slower revenue growth despite an increase in paying users. Bumble aims to redirect savings towards technology development and build a more resilient company. The job cuts resulted in a 20% surge in Bumble's share price.

Prepared by Christopher Adams and reviewed by editorial team.