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Bumble CEO Whitney Wolf’s flock criticized staff for “going crazy” after announcing it would eliminate more than 160 roles in London.
The founder of the online dating group, who returned as chief executive in March, made a statement this week, telling staff that the UK office will bear the brunt of 240 planned job cuts representing 30% of the global workforce.
According to people familiar with company-wide phone calls, Wolfe Herd said Bumble, who also owns the dating app Badoo, is “worried” that it could collapse by next year if no steps were taken to protect its business. Those with knowledge of movement also said that staff members were offered voluntary redundancy worldwide.
The Wolfe flock said its “center of gravity” would move to the US “where the current talent pool is now.” She said, “London wasn’t the first choice, it’s the honest reality.”
The move represents a strategic change in online dating companies, with 70% of current UK-based staff.
People with knowledge of video calls said the wolf swarm became critical when staff responded with a series of thumbs down the emoji.
“I see a lot of emojis making fun of them all. Everything needs to be calm,” she said. “This is taken out of the context. I like London and I think everyone is honestly overreacting to this. She also suggested that all staff take a break for the rest of the week following the call.
Bumble’s market capitalization has shrunk by about 30% over the past year, falling from the company’s publicly released $1300 billion in 2021 to about $700 million, with investors interested in lower revenues.
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The group has abandoned the signature feature that women must first send messages to men, but is one of several dating apps, including industry leader Tinder, to steadily lose users in recent years.
Industry research shows that many Gen Z users complain about dating “burnout,” but women report concerns about receiving unsolicited materials and violent threats while using online dating services.
In a staff call, Heard said Bumble would not be closing its UK offices entirely, but could not remain “London First,” adding that global expansion was “not being offered” to the company.
She added that the group will open a new office in Silicon Valley to leverage the talent of artificial intelligence in the California Bay Area.
The company plans to unveil a range of new products, including photo and phone number verification systems, and try to convince users to stick to their services in the coming months.
“We’re diminishing from a number perspective,” said the Wolf’s flock. “Dating apps feel like they’re a thing of the past.”
