Bolt CEO Fires HR Department and Reduces Workforce by 30 Percent

Ryan Breslow, who returned as CEO of Bolt in 2025 after stepping down in 2022, eliminated the company's entire HR department and replaced it with a smaller "people operations" team focused on training. Breslow said the HR staff "were creating problems that didn't exist" and that those problems disappeared after the department was removed.

The change occurred in April when the company also cut 30 percent of its workforce. Bolt, founded in 2014, develops checkout payments technology. The company's valuation fell from $11 billion in 2022 to $300 million in 2025.

Breslow gave remaining employees 60 days to adjust to a leaner culture. He stated that 99 percent could not make the shift and that a sense of entitlement had developed during earlier growth years. The company ended four-day workweeks and unlimited paid time off.

Breslow also replaced nearly the entire leadership team. Bolt now operates with roughly 100 employees, down from several thousand. Breslow said the smaller team consists of more junior staff who work longer hours and maintain higher energy levels.

Breslow's actions at Bolt follow a period of white-collar layoffs that began in 2025. The company is one of several that have reduced staff sizes after earlier expansion. Human resources departments across multiple firms have been scaled back or restructured during the same period.