BUMBLE FINANCIAL OUTLOOK
Pine Labs IPO; Raphe mPhibr, ShopOS raise funds
Pine Labs has filed its IPO papers with Sebi to raise Rs 2,600 crore. This and more in today’s ETtech Top 5.
Bumble layoffs: Shares jumps over 19% after dating app plans to cut 30% of workforce — affecting 240 roles
Bumble's shares surged over 19% after announcing a strategic restructuring plan involving a 30% workforce reduction, impacting approximately 240 employees. This move aims to optimize operations and prioritize growth, projecting annual savings of $40 million. The company intends to reinvest these savings into new product and technology development, while also updating its revenue and adjusted EBITDA forecasts for the current quarter.
Layoffs pile up in US, Canada as companies uncertain of economy
As job cuts persist in 2024 across the U.S. and Canada, sectors including technology, automakers, media, and financial services are heavily affected. Key companies like Amazon, Alphabet, Intel, and Tesla are making significant reductions to manage costs amid economic fluctuations. This trend highlights ongoing uncertainties in the market despite easing recession fears.
Deaf to screams of gold, cotton
Even the majority of finance professionals who don’t see any need to back currencies with gold are haunted by the thought of the central bank printing presses whirring into action.
