Tinder owner to lay off 8% of employees
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The Match Group, which owns several online dating services, including Tinder, is going to cut 8% of its employees. About this today, February 1, informed Match Group CFO Gary Swidler at a teleconference on the company’s financial results. The company has about 2,000 employees worldwide, so it will cut about 160 workers.
Yesterday Match Group introduced fourth quarter reporting. Its revenue during this period decreased by 2%, to $786 million, operating profit – by 54%, to $107 million. Match Group shares fell on Wednesday by 7.8%. Company last summer fired CEO of Tinder Renata Nyborg and some other top managers of the service due to unsatisfactory financial performance.
Match Group is another technology company that has recently laid off employees in the face of a difficult macroeconomic situation and a downturn in the online advertising market. In the past few weeks alone, massive cuts have been announced Alphabet (dismissed 12 thousand employees) and Microsoft (10 thousand). According to the service Layoffs.fyilast year technology companies laid off a total of more than 150 thousand employees, and since the beginning of 2023 – almost 83 thousand.
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