At a time when many companies focus on workplace culture and employee wellbeing, Bolt, a fintech startup, has taken a unique approach. CEO Ryan Breslow defended the decision to remove the entire HR department, stating that it aimed to enhance speed and efficiency. Breslow explained that the HR team was causing unnecessary issues, which ceased after their departure.
Founded in 2014, Bolt experienced rapid growth during the pandemic tech boom, reaching an $11 billion valuation in 2022. However, following Breslow’s resignation as CEO, the company’s value plummeted to around $300 million by 2024, marking a significant decline. Breslow returned in 2025, characterizing Bolt’s current phase as “wartime,” necessitating a more aggressive operational strategy.
Bolt’s recent restructuring involved laying off 30% of its workforce and dismantling the HR division. Breslow believes that traditional HR setups suit larger, stable firms better than startups aiming for agility in a competitive landscape. Instead of a conventional HR department, Bolt has introduced a streamlined “people operations” team focusing on employee training and support.
Breslow has expressed doubts about traditional HR methods, emphasizing the importance of people operations in enabling companies to make swift decisions. He criticized the perceived inefficiency within HR teams, advocating for a results-oriented approach.
