Bumble, the online dating app company, announced a significant workforce reduction, laying off about 350 employees, which constitutes approximately 37% of its total workforce. This move comes in the wake of a recent executive shakeup and is part of a broader strategy to overhaul the app amid slowing user growth. The company's decision reflects challenges in the dating app industry, including a slowdown in spending on such apps. Bumble's fourth-quarter revenue showed a 13% year-over-year increase to $273.6 million, despite a $32M net loss compared to the previous year. The company's shares also experienced a slump, falling about 10% following a downbeat quarterly revenue forecast. This forecast has highlighted the need for a revamp of the dating-app experience to attract newer generations. In response to the downturn, Bumble is looking to revive its friendship-focused BFF product.