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Dating app Bumble announces layoffs impacting 350 roles due to poor earnings and revenue issues. The company's value dropped by over 7% post trading hours.
Continuing to hire frontline and business and operations critical roles. >> this is a perfect storm they're having, neil, they've got revenue issues, sure, they're showing profits right now, but the profits are far from where they should be proportional, even with the decrease in oil and gas prices. demand is low, but the raises that were handed out are not based on productivity and revenue. they were handed out arbitrarily across the board. a lot of external pressure. causes that to happen. and so you can end up with some people that are pretty disenfranchised as well. when we're all getting ...
Revenue issues that will cause problems with the tea partiers and others. >> eric: read further. 18% can't spend above 18%. that is a 20% cut in spending. >> andrea: but you still have the revenue issues. if you have people doing different system every other year. that's why you got to make -- you have to lock them in. >> dana: bob, you generally like a flat tax but why not this one? >> bob: it goes too deep in income. well too deep in income. the cut off ought to be at least $20,000 a year or higher. having said that, i don't like the idea what is taxed is wages and earnings. what is not taxe...
Revenue issues that will cause problems with the tea partiers and others. >> eric: read further. 18% can't spend above 18%. that is a 20% cut in spending. >> andrea: but you still have the revenue issues. if you have people doing different system every other year. that's why you got to make -- you have to lock them in. >> dana: bob, you generally like a flat tax but why not this one? >> bob: it goes too deep in income. well too deep in income. the cut off ought to be at least $20,000 a year or higher. having said that, i don't like the idea what is taxed is wages and earnings. what is not taxe...
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