A notable player in the dating app market has signalled its intention to axe a large portion of its global workforce.

Woman-centred dating app Bumble in a filing with the US SEC, announced that it that it intends to slash 30 percent of its workforce, or about 240 roles.

News of the job losses pleased Wall Street, and Bumble’s share price rose more than 18 percent on Wednesday to $6.15 (£4.52).

Bumble layoffs

“On June 23, 2025, the Board of Directors of Bumble Inc. (the “Company”) approved a reduction in the Company’s global workforce by approximately 240 roles, representing approximately 30 percent of the Company’s employees, as the Company realigns its operating structure to optimise execution on its strategic priorities,” said the firm in its filing.

“As a result, the Company expects to incur approximately $13 million to $18 million of non-recurring charges, consisting primarily of employee severance, benefits, and related charges, for impacted employees,”it added.

It said these charges will primarily occur in the third and fourth quarters of 2025.

The company expects to save about $40 million of annual cost savings, which it plans to reinvest in initiatives such as product and technology development.

The company also raised its second-quarter revenue forecast to a range of $244 million to $249 million, up from the prior view of $235 million to $243 million.

Share price

The chief executive and founder of Bumble, Whitney Wolfe Herd, had stepped down from her role at the start of 2024, but returned to the role in 2025.

Wolfe Herd had been a co-founder of dating app Tinder, but left amidst tensions with other executives, one of whom she had been dating, and afterward she launched a sexual harassment case.

Wolfe Herd founded Bumble in 2014 with the innovation of putting women in charge, such that only they can make the first move with matched male users. In 2024 however Bumble began to allow men to make the first move.

When Bumble held its initial public offering in 2021 Wolfe Herd became the world’s youngest self-made female billionaire.

Shortly after flotation Bumble’s shares hit a high of $75 (£55), but since its share price has declined dramatically, and is currently trading at $6.15.

Dating crisis?

Wolfe Herd’s return to Bumble comes amidst concern about a saturation in the dating app market, coupled with reports that less men are dating, and instead are opting to remain single.

Recent data from Pew Research Center for example found that 63 percent of men in the United States between the ages 18-29 describe themselves as single, while only 34 percent of women between the ages of 18-29 say they are single .

This data shows a significant rise in the percentage of single young men compared to young women, and according to Pew, half of the singles say they are not currently looking for a relationship or dates.