How do I turn the bundle labels on or off?

Who can do this? Editors and managers with rights to the level-4 object, and admins.

The numbered bundle labels show above the bundle titles. 

(1) Navigate to the desired level-4 object and turn on edit mode

(2) Click on the center of the level-4 object, and then select the "edit" pencil

(3) In the "Edit Level 4 Object" panel, uncheck the box next to "Show bundle labels"