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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 UK offices will bear the brunt of 240 planned employment cuts, which account for 30% of the global workforce.
According to people familiar with company-wide phone calls, Wolfe Herd said Bumble, which 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 for an online dating company with 70% of its UK-based staff.
Those with knowledge of video calls said the wolf swarm became critical when staff responded with repeated emojis with a series of thumbs.
“I’m seeing a lot of weird emojis, you need to calm down,” she said. “This is out of context. I like London and I think everyone is honestly overreacting to this. Everyone has to be an adult to deal with this.” She also suggested that all staff take a break for the rest of the week following the phone.
Bumble’s market capitalization has shrunk by about 30% over the past year, with investors interested in lower revenues starting from the approximately $130 billion that the company was published in 2021.
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The group has dumped 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 an office in Silicon Valley and will leverage the San Francisco Bay Area artificial intelligence talent.
A Bumble spokesman said it has made “very difficult decisions” over the past week to “position the company better for long-term growth and success.”
“We continue to deepen our presence in the US, but London remains part of our global hub strategy. As I have consistently stated, we are firmly committed to investing in talented teams,” they added.
Bumble will unveil a range of new products, including photos and phone number verification systems, and will try to convince users to stick to their services in the coming months, according to those familiar with the company’s ideas.
“We’re diminishing from a number perspective,” said the Wolf’s flock. “Dating apps feel like they’re a thing of the past.”
