Bumble to lay off 350 employees as tech industry job cuts mount
Publishing timestamp: 2024-02-27 19:20:09
Summary
Bumble announced plans to lay off about 350 employees as part of its fourth-quarter earnings report in order to drive stronger operating leverage and align its operating model with future strategic priorities. The company reported a net loss and saw its shares fall more than 8% in after-hours trading. CEO Lidiane Jones stated that the layoffs are part of significant and decisive actions to accelerate the product roadmap.
Sentiment: NEGATIVE
Keywords: business news, internet, technology, amazon.com inc, breaking news: technology, alphabet inc, bumble inc, breaking news: business, layoffs, media,
Source: https://www.cnbc.com/2024/02/27/bumble-layoffs-350-employees-or-about-37percent-of-workforce.html