<ul><li>Match Group, the parent company of popular dating apps like Tinder, Hinge, and OkCupid, is cutting 13% of its workforce.</li><li>The layoff of around 325 employees is part of a restructuring plan to streamline operations and reduce costs.</li><li>The decision comes amidst a downturn in the online dating industry, with falling engagement levels and profits for Match Group.</li><li>Despite challenges, Match Group aims to save $100 million annually with the job cuts and expects revenue of $850-860 million in the second quarter.</li></ul>

Match Group to slash 13% of workforce

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