Bolt co-founder and CEO Ryan Breslow fires his entire human resources team as part of sweeping workforce reductions at the US fintech company Bolt Financial, according to multiple reports. The move is described as part of a broader plan that includes cutting roughly 30% of headcount. Breslow tells attendees at a Fortune event that the HR department was “creating problems that didn’t exist,” and he frames the decision as a response to internal issues during a period of financial stress.
Several outlets connect the HR overhaul to the company’s broader decline, including reports that Bolt’s value fell sharply before the restructuring. Entrepreneur and other outlets present Breslow’s account that problems “disappeared” after the HR team was removed, while other coverage emphasizes the layoffs and the fact that the HR function was eliminated entirely.
Across the reports, the key points are that Breslow eliminates the full HR department, attributes the alleged problems to HR’s actions rather than other factors, and does so as part of headcount cuts.
