Dating app giant Match Group is laying off 13% of its staff as part of a reorganization that aims to reduce costs, shore up margins, and streamline its organizational structure.
The layoff would affect about 325 employees, based on the 2,500 employees Match had as of December 2024, per its annual filing. Open roles are also being closed.
The reorganization is meant to reduce management layers, with about one in five managers affected, and centralize key functions — including technology and data services, customer care and content moderation, media buying, and international go-to-market functions, the company said.
Spencer Rascoff, who came on board as CEO in February, said in a statement that the move was aimed at helping Match operate as one company, not brands that are managed independently. Match is the parent company of several popular dating apps, including Tinder, Hinge, Match.com, Meetic, OkCupid, Hinge, Plenty of Fish, and OurTime.
The cost cuts and reorganization would help Match save over $100 million (annualized), and about $45 million in 2025, Rascoff said in a statement.
Match also said first-quarter revenue declined 3% to $831.2 million from a year earlier due to a 5% drop in the number of users who paid for a service or subscription. Net profit declined 4.6% year-on-year to $117.6 million.
{content}
Source: {feed_title}
