Ryan Breslow, co-founder and CEO of US fintech company Bolt, announced the elimination of the HR department in the company. According to him, the HR team was creating problems that did not exist in the company, and after the department was closed, these problems also disappeared.
Bolt laid off about 30 percent of its employees in the spring of 2026. The company explained this by the need to adapt to the era of artificial intelligence and maintain competitiveness. Currently, the company employs about 100 people.
Ryan Breslow said that the company now prefers a result-oriented work principle. In his opinion, in the previous period, some employees and managers could not adapt to changes and an inefficient work environment was formed in the company.
Bolt, founded by Stanford students in 2014, initially operated as a “one-click payment” service, but later transformed into a fintech platform that also includes money transfers and cryptocurrency transactions. Although the company's value was $11 billion in 2022, this figure has decreased significantly in subsequent years.
