FILE PHOTO: The dating app Tinder is shown on a mobile phone in this picture illustration taken September 1, 2020. Picture taken September 1, 2020. REUTERS/Akhtar Soomro/Illustration/File Photo
(Reuters) - Match Group Inc on Wednesday joined a growing list of U.S. companies that are cutting jobs to rein in costs after it announced plans to lay off about 8% of its workforce, or about 200 employees, as spending on its dating apps slows.
The company gave a lackluster quarterly revenue forecast a day earlier that it blamed on a tough economy, a strong dollar and "significant" poor product execution at Tinder. Product delays have also hit its Hinge app at a time when competition is rising from rival Bumble Inc.
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