Tinder’s parent company Match Group is cutting around 6 per cent of staff after the company announced an eight per cent drop in paying users on the app.

The job cuts are largely linked to the discontinuation of live-streaming services available on some of its dating platforms.

The news comes after a number of activist investors have pushed for changes at the Dallas-headquartered tech company.

Among these, Starboard Value voiced its demands for changes by building a 6.6 per cent stake in March and calling for a potential sale if changes were not met.

Elliott Investment Management and Ansons Funds Management also pushed for changes after the company struggled with a post-pandemic sluggish slowdown.

But Match Group, which also owns Hinge, Plenty of Fish, and OkayCupid, still beat Wall Street's second quarter revenue projections, with Tinder reporting a smaller drop in paying users than in the previous quarter, sending its shares up more than eight per cent in extended trading.

The company said it has shown signs of stabilisation, with robust growth recorded for Hinge, bolstered by marketing efforts, new subscriptions and app updates to attract younger users.

The group also revealed it has been testing a range of key product developments for Tinder, with new services such as incorporating more inclusive gender identities.

LSEG data reported that the company’s second-quarter earnings rose four per cent to $864 million, beating average estimates of $856.4 million, and reported a minor decline in users of nine per cent compared to its previous quarter, where the company recorded a nine per cent decline.

Match is now expecting revenues of between $895 million and $905 million for the third quarter, below estimates of $915.4 million.

---