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Bumble is laying off approximately 30% of its global workforce, or about 240 employees, as the company seeks to return to its startup roots amid ongoing challenges in the online dating market. The announcement came via a regulatory filing on June 25, with the company stating the move is part of a strategic realignment designed to accelerate product innovation and improve execution across teams.

Read more: <a href="https://www.storyboard18.com/how-it-works/layoffs-bumble-to-cut-350-roles-24695.htm">Layoffs: Bumble to cut 350 roles</a>


The Austin-based dating app firm expects to incur non-recurring costs of $13 million to $18 million due to severance and related employee expenses, primarily spread across the third and fourth quarters of the fiscal year. However, Bumble anticipates annualized savings of $35 million to $40 million, which will be redirected into enhancing technology and product development efforts.

CEO Whitney Wolfe Herd noted that the layoffs are necessary for Bumble to regain the flexibility and speed of a startup. “The dating industry is at an inflection point,” she said, acknowledging a shift in user behavior, particularly among Gen Z users, who are increasingly disengaged from traditional swipe-based platforms. Wolfe Herd emphasized the need for fundamental changes in how dating platforms serve modern users, stressing the importance of product innovation.

The announcement came alongside an updated revenue forecast for Q2 2025, which Bumble raised to $244–249 million, up from an earlier guidance of $235–243 million. 

Read more:<a href="https://www.storyboard18.com/brand-makers/bumble-restructures-senior-leadership-team-49238.htm"> Bumble restructures senior leadership team</a>

Bumble’s move mirrors broader trends in the online dating sector. Earlier this year, rival Match Group also laid off around 13% of its workforce, citing similar pressures and the need for operational efficiency.

For Bumble, the cuts come three months after founder Herd reassumed the role of CEO, promising the company's performance by focusing on match-making quality.

Read more: <a href="https://www.storyboard18.com/how-it-works/microsoft-to-lay-off-hundreds-in-xbox-division-amid-restructuring-push-71865.htm">Microsoft to lay off hundreds in Xbox division amid restructuring push</a>

It is to be noted that this is not the firt job cuts at Bumble. In February 2024, Bumble announced that it would cut about 350 roles. It was then expected that the company will incur about $20 million to $25 million in one-time charges through the whole layoff process.

Bumble to cut 30% of global workforce as online dating sector faces inflection point

Microsoft is reportedly planning another round of layoffs next week, this time targeting its Xbox gaming division. The tech giant is expected to cut hundreds of jobs as it continues to realign its workforce and resources, according to media reports. The layoffs mark the fourth major round of job cuts since early 2023 and come as the company enters the final stretch of its fiscal year, ending June 30.

Read more: <a href="https://www.storyboard18.com/how-it-works/microsoft-slashes-hundred-more-jobs-in-another-round-of-layoffs-68475.htm">Microsoft slashes hundred more jobs in another round of layoffs</a>


While Microsoft has not officially confirmed the exact number of roles impacted, the decision is said to be part of a broader restructuring following the company’s $69 billion acquisition of Activision Blizzard. The gaming unit, including Xbox Game Studios, ZeniMax, and Activision Blizzard, has already seen over 1,900 job cuts earlier this year, and this new round will further streamline operations in pursuit of improved profitability.

The company has also made deep cuts in other departments this year, including over 6,000 layoffs across sales, customer support, and engineering teams in May, followed by another 300-plus roles eliminated in early June. These reductions come as Microsoft ramps up investments in artificial intelligence, cloud infrastructure, and data center expansion. The company has earmarked over $80 billion in capex toward AI-related growth over the coming years.

These represent the company’s second-largest set of layoffs since 2023, when it eliminated 10,000 jobs in a single wave.

Read more: <a href="https://www.storyboard18.com/brand-makers/satya-nadella-explains-microsoft-layoffs-not-a-performance-issue-68124.htm">Satya Nadella explains Microsoft layoffs: Not a performance issue</a>


CEO Satya Nadella has previously characterized the layoffs as necessary for realignment rather than a reflection of performance. In past statements, the company said it continues to evaluate strategic priorities and reallocate talent toward areas of growth. 

In May, Nadella shed light on the company's decision to lay off around 6,000 employees—roughly 3% of its global workforce—stressing that the move was not a reflection of employee performance but rather a strategic realignment to prepare for a rapidly shifting tech landscape. Addressing employees at a company-wide town hall, Nadella clarified that the layoffs stem from a broader organisational restructuring aimed at positioning Microsoft as a leader in artificial intelligence. “This was about reorganisation rather than performance,” he said, signalling that the company’s workforce reshuffle is designed to support its long-term AI ambitions.

Read more: <a href="https://www.storyboard18.com/digital/microsoft-lays-off-6000-in-ai-restructuring-drive-director-speaks-out-65958.htm">Microsoft lays off 6,000 in AI restructuring drive; director speaks out</a>


These developments are also part of a broader trend across the tech sector in 2025, where companies like Amazon, Meta, and Intel have announced large-scale layoffs in response to slowing growth in traditional segments and a strategic pivot toward AI and automation.

Microsoft to lay off hundreds in Xbox division amid restructuring push

In Chennai’s bustling automotive belt, simmering union unrest at Hyundai Motor India’s flagship plant near Sriperumbudur risks derailing operations. The dispute, reignited this week, pits the Centre of Indian Trade Unions (CITU)‑affiliated Hyundai Motor India Employees Union (HMIEU) against the company’s long‑standing recognition of the United Union of Hyundai Employees (UUHE).

HMIEU reportedly has said that it will be forced to take the protest route if the management fails to accede to its demands, and that it will announce its future course of action on Monday. The company recognises the UUHE as its majority union.

Hyundai Motor India's spokesperson told Storyboard18 that as a responsible and ethical corporate entity and an employee friendly company, it continues to maintain a harmonious and inclusive work environment while adhering to all applicable Indian laws and internal protocols.
 

"Long term settlements are a standard industry-wide practice involving multiple rounds of discussions and negotiations. We are currently engaged in ongoing discussions with union representatives of UUHE which is the recognised majority Union at Hyundai Motor India Limited and as per the Labour Department of Government of Tamil Nadu. 

We remain focused on reaching a mutually beneficial outcome. HMIL leads the industry in offering among the best-in-class wages and benefits, and prioritises employee well-being and operational continuity as part of its long-standing commitment to India and the automotive industry.
 
In relation to the CITU backed union, it is an unrecognised minority union and in lieu of the ongoing litigation before the Court, HMIL cannot comment on any matters which are sub-judice."

HMIEU apparently asserts that 1,356 out of 2,420 permanent employees have signed up with his union, clearly a majority and that Hyundai must either include HMIEU in ongoing wage negotiations or facilitate a secret‑ballot union vote. 

Read more:<a href="https://www.storyboard18.com/brand-marketing/hyundai-motors-q3-profit-declines-19-to-rs-1161-crore-due-to-subdued-demand-54802.htm"> Hyundai Motor's Q3 profit declines 19% to Rs 1,161 crore due to subdued demand</a>

Hyundai, however, stands firm. The automaker has reportedly emphasised that it only recognises UUHE, as confirmed by Tamil Nadu’s labour department and is in talks with UUHE for a long‑term wage agreement, extending from April 2021 to March 2024. With parallel litigation in the Madras High Court and allegations of HMIEU submitting forged membership lists, Hyundai rejects HMIEU’s claims as “unrecognised and sub‑judice”.

In December 2023, HMIEU issued a notice to Hyundai and urged the company to conduct a secret ballot to determine the majority union. Following which, in January 2024, the union filed a writ petition before the Madras High Court seeking directions to the company to conduct the election under court supervision. In response to that, in March 2024, Hyundai filed a complaint before a metropolitan magistrate and alleged that HMIEU had submitted false evidence, including forged signatures of some employees in the voter list.

It is to be noted that five months ago, Samsung’s Sriperumbudur plant also grappled with CITU‑backed union demands, though those were eventually resolved after a prolonged deadlock .

Toyota and Hyundai themselves have faced labour unrest in Chennai previously. In 2010 during a sit‑in protest over reinstatement demands, and again in 2012, when HMIEU-led strikes followed a wage pact signed with UUHE. Such standoffs have cost production up to 40% in a single day, in the past.

In 2012 also, HMIEU led a strike at Hyundai's Chennai plant, demanding the reinstatement of 27 dismissed workers, recognition of the union, and renegotiation of a recently concluded wage agreement. The strike, which began on October 30, 2012, was called off after the company revoked the suspension of 20 striking workers.

Labour discussions at Hyundai Plant evolve amid Union dynamics

In a striking reversal from the tepid job market sentiment of 2024, India’s premier business schools have reported a 100 percent placement rate as of March 4, 2025. Among the standout performers was the Indian Institute of Management Lucknow, which, for the first time in its history, achieved full placement, securing 576 job offers for 555 students.

According to the institute, the average monthly stipend for students reached ₹1.31 lakh, with the highest stipend recorded at ₹3.50 lakh. Notably, 410 students at IIM Lucknow received a monthly stipend exceeding ₹1 lakh. The top 10 percent of students secured annual salary packages above ₹50 lakh, while the top 80 percent were offered ₹32 lakh per annum.

Consulting and finance continued to be the dominant recruiting sectors across India’s IIM campuses, followed closely by roles in product management, sales, and marketing. At IIM Lucknow, major recruiters in the sales and marketing sector included Colgate-Palmolive, Hindustan Unilever, Myntra, Pidilite, Dabur, ITC, Procter & Gamble, and Puma. The highest monthly stipend offered in this domain was ₹2.25 lakh, with a median stipend of ₹1.5 lakh.

New-age job roles such as cybersecurity specialist, cloud architect, AI and machine learning engineer, direct-to-consumer specialist, and social media marketing and community managers also saw significant demand, according to Neelesh Gupta, a partner at Deloitte India.

E-commerce emerged as the most sought-after sector for graduates, with 56 percent of students opting for roles in the industry, followed by professional services (30 percent), fast-moving consumer goods (23 percent), and banking (7 percent).

At IIM Ahmedabad, Boston Consulting Group emerged as the leading recruiter, extending 35 offers, followed by Accenture Strategy with 30. The institute’s placement committee reported a sharp increase in hiring by retail B2B and B2C firms, with offer volumes surging by 400 percent and 800 percent, respectively.

Among the marquee recruiters at IIM Ahmedabad this year were AB InBev, Airtel, Amazon, Asian Paints, Bluestone, British Petroleum, Dabur, Flipkart, Glenmark Pharmaceuticals, Google, Hindustan Unilever, ITC, L’Oréal, Nestlé, OYO, Procter & Gamble, Sun Pharmaceutical Industries, United Breweries, Wipro Consumer Care, and Zomato, among others.

IIM Calcutta also saw robust hiring, with 456 students securing 538 offers from 196 companies despite ongoing market volatility. The consulting sector led the hiring cycle with 201 offers, while firms in banking, fintech, and technology also participated actively.

IIM Bangalore reported that 580 students in its current cohort received over 640 offers from some of the world's top firms, reinforcing the institution’s standing as a recruitment powerhouse.

Industry leaders emphasized the value that IIM graduates bring to their organizations. Irene Tan, Vice President of Human Resources at Coca-Cola India and Southwest Asia, highlighted the company's “Mantra” internship program, which aims to integrate top talent from premier business schools into strategic business projects.

“Interns work on critical assignments, gaining hands-on project management experience and corporate exposure,” Ms. Tan said in an interview with Storyboard18.

Despite concerns over geopolitical uncertainties and economic headwinds, corporate recruiters remained bullish on India’s top business schools.

“Given the volatile global environment, we anticipated challenges in this year’s placement season,” said Professor Viswanath Pingali, chair of IIM Ahmedabad’s placement committee. “Yet, as always, companies continued to place their trust in IIM graduates.”

IIMs placements defy job market blues; sales and marketing among top recruitment areas

The Centre has initiated a probe into the death of Anna Sebastian Perayil, a 26-year-old EY Pune employee who passed away in July. Perayil's mother, Anita, has accused EY of exploiting her daughter, leading to her death. Anita wrote an email to EY India CEO Rajiv Memani, detailing how her daughter's health deteriorated after joining EY in March. The email has gone viral on social media, sparking a barrage of criticism against the company.

Shobha Karandlaje, Minister of State for Labour & Employment took to platform X and wrote, "A thorough investigation into the allegations of an unsafe and exploitative work environment is underway. We are committed to ensuring justice & @LabourMinistry has officially taken up the complaint".

<a href="https://www.storyboard18.com/how-it-works/ey-chairman-responds-to-backlash-over-workplace-culture-after-anna-sebastians-death-42712.htm">EY Chairman responds to backlash over workplace culture after Anna Sebastian's death</a>

Additionally, former union minister Rajeev Chandrasekhar has called the death of Anna "disturbing at many levels".

"I request Govt of India @mansukhmandviya @ShobhaBJP to investigate these allegations made by the mother of unsafe and exploitative work environment that claimed the life of young, full of future Anna Sebastian Perayil," Chandrasekhar wrote.

Samajwadi Party chief Akhilesh said Anna's death and her mother's "emotional" letter has shaken the youth of the country.

According to Anita Augustine, Anna's manager would often 'reschedule' meetings during cricket matches and assign her work at the end of the day. "She worked late into the night, even on weekends, with no opportunity to catch her breath," her mother added. Anna's mother alleged that her daughter expressed concerns but was met with a dismissive response. "You can work at night, that's what we all do", Anita wrote. "Anna's experience sheds light on a work culture that seems to glorify overwork while neglecting the very human being behind the roles," Anita added.

Following the criticism, EY CEO Memani wrote an email to staff saying the company had provided all the assistance to the family.

"Though no words can comfort a grieving family, I have personally expressed my condolences and have shared my deepest regret for their irreparable loss," Memani wrote.

He asked his staff to speak up if they faced any challenges in the company.

"If you ever face challenges or need guidance, I will strongly encourage you to please reach out to your team leaders, members of the talent team, and your support network across the firm. I would like to personally assure you that when you speak up, you will be heard with empathy and understanding. If there are any suggestions that you have, please don’t hesitate to let me know,' the EY India CEO added.

Anna Sebastian Perayil death: Centre launches probe into the death of EY employee

Ernst & Young chairman Rajiv Memani has shared a formal statement as the company faces severe backlash over its workplace culture following the death of its 26-year-old employee Anna Sebastian Perayil due to workload. Memani said the company has provided all assistance to Anna's family during the distressing time, and assured that EY will create additional avenues to share "transparent and honest feedback" on workplace practices.


Anna was an audit and assurance executive at Ernst & Young, Pune. She passed her CA exam in November 2023 and joined EY Pune on 19 March 2024. However, four months later, on July 20, Anna passed away.

Anna's mother Anita has written a harsh email to EY India's CEO for glorifying "overwork" while neglecting the human beings behind the roles.

The mother alleged that Anna's manager assigned her an overwhelming amount of work, including verbal requests beyond her official duties, which forced her to work late into the night and on weekends. 
 
"No one from EY attended Anna's funeral. This absence at such a critical moment, for an employee who gave her all to your organization until her last breath, is deeply heartful".

Following the social media backlash, EY India CEO wrote an email to his staff wherein he said, "I would like to reaffirm to all of you that our firm places the highest importance on the health and well-being of our people, and we will recommit ourselves to providing a supportive, healthy, and balanced work environment to you all".


Here's a full text by Rajiv Memani to staff on the death of Anna Sebastian Perayil


Dear all,

As you all would be aware, since yesterday, several messages regarding our firm have been circulating on WhatsApp and other social media platforms.
These pertain to the tragic passing away of Anna Sebastian on 20 July 2024, who joined us in our Assurance team in Pune on 18 March 2024, The fact that her journey with the firm was so short-lived - only four months - makes this tragedy even more poignant for all of us.

Anna hailed from Kochi and worked at our Pune office. During the difficult period following her passing, the firm was in regular contact with her family. While we acknowledge that no measure can compensate for the loss experienced by the family, we have provided all the assistance as we always do in such times of distress while respecting the family's privacy and preferences.
Though no words can comfort a grieving family, I have personally expressed my condolences and have shared my deepest regret for their irreparable loss. I received an anguished e-mail from Anna's mother and have taken note of her message with utmost seriousness and humility.
I would like to reaffirm to all of you that our firm places the highest importance on the health and well-being of our people, and we will recommit ourselves to providing a supportive, healthy, and balanced work environment to you all. I would like to make this an ongoing dialogue with you to ensure we are continually building a healthy workplace for everyone.

We have several well-being programs and open channels of communication available in the firm to ensure that you always have a safe space to voice your concerns anonymously, including through our existing Speak Up forum and Ethics Hotline. We will also create more avenues for you to share transparent and honest feedback on our workplace practices. 

If you ever face challenges or need guidance, I will strongly encourage you to please reach out to your team leaders, members of the talent team, and your support network across the firm. I would like to personally assure you that when you speak up, you will be heard with empathy and understanding. If there are any suggestions that you have, please don’t hesitate to let me know.

In the meantime, I urge you to handle this information with the utmost compassion and sensitivity.


Thank you for your understanding and cooperation.


Warm regards,
Rajiv

EY Chairman responds to backlash over workplace culture after Anna Sebastian's death

As India gears up for the festive season, businesses across the country have ramped up hiring, especially in Tier 2 and 3 cities.

According to data from global matching and hiring platform Indeed, a 20% increase is projected in seasonal hiring in the current calendar year as compared to last year.

The data mentioned that there would be an increase between 18 and 20 percent in job opportunities in metro cities like Mumbai, Delhi, Chennai, Bengaluru, and Kolkata. Whereas in non-metro cities such as Jaipur, Lucknow, Kochi, Gurugram, Indore, Surat, Bhubaneshwar, Madurai, and Chandigarh, there could be a 22-25% rise in hiring during the festive season.

<a href="https://www.storyboard18.com/how-it-works/festive-season-fuels-e-commerce-boom-meesho-enables-over-8-lakh-jobs-41407.htm">Festive season fuels e-commerce boom: Meesho enables over 8 lakh jobs</a>

The growth in seasonal jobs in Tier 2 and 3 cities could be attributed to a range of factors such as companies tapping new consumer bases, increased internet penetration in these regions, rise in digital adoption, among others.

As per Indeed, the top five roles that are expected to see the highest increase in hiring during the festive season are- Delivery executives (30%), warehouse workers (25%), Logistics Coordinators (20%), in-store sales executives and customer care executes (15% each), respectively.

E-commerce, logistics, retail, quick commerce, BFSI, tourism and hospitality, and manufacturing companies will expand the job hiring in the upcoming days to scale up revenue during the festive season.

<a href="https://www.storyboard18.com/how-it-works/rs-580-bn-boom-indian-digital-ad-spending-set-to-surge-15-9-this-festive-season-41419.htm">Rs 580 bn boom: Indian digital ad spending set to surge 15.9% this festive season</a>

E-commerce led the trend with a 35% increase in demand as per the data. Quick commerce showed an 11% rise in demand for delivery personnel and fulfillment staff, reflecting the growing consumer preferences for ultra-fast delivery services.


"The increased hiring in tier 2 regions recognizes the untapped potential of these markets. The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand. The industries that are growing—e-commerce, logistics, quick commerce—are doing so because they’re aligned with the needs and behaviours of today’s consumers. This is where the future of India’s job market could be heading," Sashi Kumar, Head of Sales, Indeed India said.

Gig hiring to soar by 20% during festive season this year, ecommerce leads trend: Indeed data

Top media investment forms in India are working to refresh their teams with future-ready talent. According to industry estimates, media agencies in India are increasing their workforce strength by about 12-15 percent this year. A quarter of these recruits will be on-boarded to drive new capabilities from content to commerce.

Marketing is rapidly transforming on the back of evolved consumers, believes Ajay Gupte, CEO – South Asia, Wavemaker, a WPP group company. “Instant access to information and products/services has put the consumer purchase journey on steroids. Ability to access, enhance and activate data in ways customized to cater to every individual need of our massive consumer base is key to success,” he says.

Today, the GroupM-owned agency is looking for data analysts, audience scientists, content specialists, and more performance marketing experts to augment teams. The company wants its talent to be entrepreneurial to keep up with the scale and speed of work today. Much like the mainline creative and digital marketing companies, media investment agencies are also ideating in real time for several brands and are no longer just crunching weekly viewership numbers or strategising one big project at a time.

The talent quest

Homegrown company Madison World has been hiring more freshers from various academic streams to increase the agency’s bench-strength, says the company’s executive director Lara Balsara Vajifdar. She adds, “We are hiring for more thinking roles as doing roles are getting automated. We are also looking at more specialized roles to boost domain expertise across categories.”

Madison World also wants its talent to “be happy”. The agency uses Happyness.me, a proprietary tool that measures the happiness quotient of corporations and its people. Happyness.me is a part of media veteran Raj Nayak’s company House of Cheer. Vajifdar says the agency is setting up periodic surveys to keep a check on employees’ happiness quotient.

Last year, Omnicom Media Group India launched ‘OMG Bootcamp’, with a focus on training and developing aspirants for the future. This paid internship program focuses on helping young graduates hone their craft and not only tests their mettle but also gives them the opportunity to work full-time at OMG and its agencies. 

Anju Kurien, talent head at Omnicom Media Group – India, is looking for “problem solvers and integrated thinkers”. OMG India is also invested in adding new skill sets to its existing team members. Kurien shares, “With transformations in the advertising ecosystem, brands today are turning to media-agnostic professionals with a keen understanding of integrated thinking. It plays a key role in having a larger understanding of the brand and consumer needs.”

Identifying the roadblockers

Attracting and retaining the right talent is the biggest challenge facing ad companies today. Gupte points to the increasing level of competition agencies are facing from companies in other industries looking for similar profiles and fishing in the same pool. “Apart from media agencies, today we compete with marketers, consultants and even tech companies for talent. As industry leaders, the onus is really on us to add to the talent pool,” says Gupte.

The agency is building a steady supply of talent suited for the roles that are opening up. Wavemaker India regularly hires freshers from colleges and gets them on board after grueling classroom and on-the-job training. The agency is also upskilling its current workforce to keep them future-fit.

Kurien notices another trend that’s proving to be a challenge for recruiters at agencies. 

“The challenge faced during the courtship journey from recruitment to joining is a new phenomenon. Candidates are on the lookout for opportunities, sometimes even while they are in the courtship period. Today, it is more important than ever to keep potential candidates engaged until they are fully assimilated into the system.”

The advertising industry is grappling with one of its worst talent crises ever. The problem isn’t that there aren't enough talented people. It’s that many people don’t want to join agencies these days. Making matters worse is the exodus of talent to brands’ side, with new-age companies like D2C firms and streamers attracting the best of the lot with bigger paychecks and better work-life balance.

Further exacerbating the issue are phenomena like ‘quiet quitting’ and ‘the Great Reshuffle’ which is defined by a large-scale resignation by working professionals who are prioritizing both flexibility and fulfillment. In April 2021, according to LinkedIn data, globally two-thirds of the workforce had either left a job or considered leaving a job. The trend continued into 2022.

The Great Skill Reset: Audience scientists, integrated thinkers, people with high HQ in demand

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