Tinder owner Match to cut staff by about 8% after downbeat forecast - Reuters

Feb 1 (Reuters) - Match Group Inc (MTCH.O) said connected Wednesday it would laic disconnected astir 8% of its workforce, a time aft it forecast first-quarter gross beneath Wall Street expectations.

The institution has already chopped jobs successful the United States and the process is ongoing successful different countries, Chief Financial Officer Gary Swidler said connected the net call.

Shares of the Texas-based steadfast were down 7.8%, having mislaid 11% aft the doorbell connected Tuesday pursuing its downbeat forecast.

The dating institution joins Big Tech firms and Wall Street titans successful reducing unit arsenic they strive to chopped costs amid concerns of a recession.

Match said connected Tuesday it expected to incur astir $6 cardinal successful severance and akin expenses successful 2023, adding that its outgo cuts volition assistance amended margins successful the 2nd fractional of the year.

Reporting by Vansh Agarwal and Shreyaa Narayanan successful Bengaluru Editing by Vinay Dwivedi

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