‘They were creating problems that didn’t exist’: Why Bolt fired its entire HR team

In a dramatic shift to streamline operations, fintech startup Bolt has made headlines by dissolving its entire human resources department as part of a broader restructuring initiative earlier this year. This decision coincided with significant layoffs affecting approximately 30% of the workforce, a strategic move championed by CEO and co-founder Ryan Breslow, who advocates for a more agile, 'wartime' operational model. In a recent public appearance, Breslow defended the controversial choice, claiming that the HR team had become a source of unnecessary complications within the organization. "We had an HR team, and that HR team was creating problems that didn’t exist. Those problems disappeared when I let them go," he stated. Founded in 2014, Bolt quickly rose to prominence as one of the fastest-growing fintech companies in the United States, capitalizing on the boom in online commerce and checkout technology. However, the company faced mounting pressure on its valuation, leading to restructuring and several rounds of layoffs after Breslow's departure as CEO in 2022. Upon his return to leadership in 2025, he framed the company's turnaround as a necessity for survival, emphasizing the importance of startup-style discipline over traditional corporate frameworks. Following the dissolution of the HR department, Bolt has replaced it with a more compact people operations team tasked with handling employee support and compliance functions, such as mandatory training programs. Breslow emphasized that this new structure is designed to cut down on bureaucracy and empower managers to make quicker decisions, keeping the focus on execution. Breslow has also been vocal about the cultural changes he believes are necessary for Bolt's success. He criticized the sense of entitlement that developed during the company's rapid expansion, claiming that many employees were not putting in the hard work required for success. In light of these changes, Bolt has rolled back several employee-friendly policies that were implemented during its growth phase, including the introduction of four-day work weeks and unlimited paid time off. Breslow is advocating for a return to a more resilient company culture centered on efficiency, accountability, and survival.