Bolt CEO says he let go of HR team for creating problems that didn't exist
2 hours ago
- #HR elimination
- #workforce cuts
- #startup culture
- Bolt CEO Ryan Breslow eliminated the company's HR team, claiming they created non-existent problems.
- After Bolt's valuation plummeted from $11 billion to around $300 million, Breslow returned as CEO in 2025, citing 'wartime' operations.
- Breslow attributed the downturn to poor decision-making and overspending, leading to multiple layoffs and a shift to a lean startup culture.
- He replaced HR with a smaller people operations team to empower managers and streamline decision-making.
- Breslow said employees developed a sense of entitlement and weren't working hard, leading to most being let go when they couldn't adapt.
- Bolt has slimmed down to about 100 employees, with Breslow claiming the new team is more junior, harder-working, and customer-focused.