Match Group, the American company that owns dating applications such as Tinder, OkCupid or Meetic will carry out a workforce adjustment that will affect 8% of its workforce globally, which will mean the departure of some 200 workers, as announced the multinational after presenting its annual accounts.
“We expect to reduce our global workforce by approximately 8%,” Match Group’s chief financial officer, Gary Swidler, announced during a conference call with analysts after the multinational’s results were published. In this sense, Match Group earned in 2022 an attributed net profit of 361.9 million dollars (333 million euros), 30.3% more than in 2021.
For its part, the company’s revenues totaled 3,189 million dollars (2,939 million euros) for the year as a whole, 6.9% more, including 1,794 million dollars (1,653 million euros) generated by Tinder. However, the costs of Match Group in the year amounted to 2,673.8 million dollars (2,464 million euros), 25.5% more.
Between October and December, the company obtained an attributable net profit of 84.5 million dollars (78 million euros), compared to losses of 168.6 million dollars (155 million euros) in the same period of 2021, while that revenues fell by 2.5%, to 786 million dollars (724 million euros).
Looking ahead to the first quarter of 2023, Match Group expressed confidence in reaching a revenue range of between 790 and 800 million dollars (728 and 737 million euros), with an adjusted operating profit of between 250 and 255 million dollars ( 230 and 235 million euros). Match Group shares fall as much as 9% after the company’s forecasts fall below market consensus expectations.
