The tech industry’s layoffs and hiring freezes: all of the news
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The parent company of Tinder and Hinge is cutting 13 percent of its staff.
Match Group, which owns Match.com and other big dating apps, announced its quarterly earnings today and announced a workforce reduction that new CEO Spencer Rascoff said will reduce “around 1 in 5 managers overall.” Based on its 2024 filing, Bloomberg says that’s about 325 jobs.
The company said recent developments have included rolling out a new AI-powered recommendation system for Hinge that “has driven a 15 percent increase in matches and contact exchanges.” Meanwhile, new “AI-enabled Discovery, Double Date, and The Game Game” launches for Tinder are targeting Gen Z users with “more social, low-pressure experiences.”
Match Group Announces First Quarter Results
[ir.mtch.com]
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