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7 hours ago
2
ARTICLE AD BOX
Bumble
CEO
Whitney Wolfe Herd
criticized staff for "freaking out" after announcing the elimination of more than 160 roles in London as part of a broader cost-cutting initiative that will slash 30% of the company's global workforce.During a company-wide call this week,
Wolfe Herd
warned that drastic measures were necessary as "dating apps are feeling like a thing of the past." The online dating company plans to cut 240 positions globally, with London bearing the brunt of the layoffs despite 70% of staff being based in the UK.According to people familiar with the call, Wolfe Herd expressed concern that Bumble might collapse by next year without immediate action to safeguard the business. When staff responded with thumbs-down emojis during the announcement, she became critical of their reaction."I see a lot of freaking-out emojis, y'all need to calm down," Wolfe Herd said. "This is being taken out of context. I like London and I think everyone is overreacting to this, candidly... Everyone's going to have to be adults in dealing with this."
Bumble to shift its base to US, where CEO says is the talent pool
The CEO, who returned to lead the company in March after stepping down in 2023, announced that Bumble's "centre of gravity" would shift to the United States where the "talent pool is right now." She bluntly stated that "London's not the first choice, that's the frank reality."Bumble's market capitalization has plummeted almost 30% over the past year to approximately $700 million, down from about $13 billion when it went public in 2021. The company has struggled with declining revenues as users abandon dating apps due to reported "burnout" and safety concerns."We are in a decline from a numbers standpoint," Wolfe Herd acknowledged during the call. The company plans to open a Silicon Valley office to tap into artificial intelligence talent while maintaining its London presence as part of a global hub strategy.Following the tense call, Wolfe Herd suggested all staff take the rest of the week off. The layoffs are expected to save $40 million annually, which will be reinvested in product development.
English (US) ·