Bolt CEO Eliminates HR Department in Restructuring Push

The CEO of fintech company Bolt has eliminated the company's entire human resources department as part of a sweeping restructuring effort aimed at returning the firm to a leaner, startup-like operational model. Ryan Breslow, the company's co-founder and chief executive, announced the move at a recent industry summit, stating the HR team was creating problems that did not exist and that those problems disappeared when he let them go.

The decision is a central component of a broader cultural and operational overhaul Breslow is leading after returning to the CEO role in March 2025. He described inheriting a culture of complacency and entitlement that had taken hold during the company's period of rapid growth. To address this, he has dismantled several policies from that era, including four-day workweeks and unlimited paid time off, which he believes fostered a sense of entitlement without corresponding productivity.

Bolt’s workforce has been dramatically reduced as part of this shift. The company conducted a round of layoffs in April, affecting roughly 30 percent of its remaining staff, or fewer than 40 people. This follows several previous rounds of job cuts since 2022. From a...