“We had an HR team, and that HR team was creating problems that didn’t exist. Those problems disappeared when I let them go.”
For most companies, HR is the backbone of hiring, employee support, conflict resolution, and workplace structure. But at Bolt, the fintech startup known for its fast checkout technology, the CEO is taking a very different view. Ryan Breslow, Bolt’s founder and CEO, says the company’s decision to completely eliminate its HR department was not just symbolic. It was necessary. And in his words, it helped fix problems inside the company almost immediately.
Speaking at a Fortune workplace event, Breslow defended the controversial move, saying the HR function had become more of a source of internal friction than stability. He argued that the department was generating unnecessary complexity inside the organisation instead of solving real workforce issues.
That belief led to one of the most aggressive restructuring decisions in Bolt’s recent history. The entire HR team was removed and replaced with a smaller “people operations” structure. A shift that immediately changed how employees interact with management systems inside the company.
Breslow did not stop at HR. Bolt has also gone through repeated layoffs and structural changes as it tries to recover from a sharp decline in valuation, which reportedly fell from about $11 billion in 2022 to roughly $300 million in 2024. The company has reduced headcount significantly in multiple rounds of cuts since 2022, including a major reduction affecting roughly 30 percent of staff in its latest restructuring cycle.
Inside the company, the message has been consistent. Become leaner. Move faster. Rely more on automation and AI driven systems. One of the biggest drivers behind the overhaul is the growing use of artificial intelligence inside Bolt’s operations. Like many fintech companies, Bolt has been integrating AI tools into product development, customer service workflows, and internal decision making systems.
Breslow has described the shift as necessary for survival in a market where speed and efficiency are becoming the main competitive advantages. But critics say the pace of change is also reshaping workplace culture in ways that are harder to measure. The decision to eliminate HR has become the most controversial part of that transformation.
Traditionally, HR departments handle sensitive workplace issues such as hiring disputes, performance management, employee relations, and compliance oversight. Replacing that function with a smaller internal structure raises questions about how those responsibilities are being managed.
Breslow, however, argues that the traditional model creates unnecessary bureaucracy. He claims that many of the “problems” HR was designed to solve were either overmanaged or exaggerated inside corporate systems. One of his key arguments is that startup environments require a different structure than large corporate organisations.
At early stage or turnaround companies, he believes speed matters more than layered approval systems. That mindset has shaped a broader internal reset at Bolt, including workforce reductions and the removal of perks seen as inefficient. The company has also scaled back flexible work arrangements, replacing them with more structured policies designed around performance expectations rather than employee preference.
Inside the industry, reactions are mixed. Some founders see Bolt’s approach as a return to startup discipline, where lean teams and direct communication are prioritised over formal corporate layers. Others see it as a risky experiment that removes safeguards designed to protect employees and maintain workplace stability. A former HR executive familiar with similar restructurings described the tension simply. “When you remove HR, you are not removing problems. You are changing how they are handled.”
The move also reflects a broader trend in tech companies shifting toward AI assisted operations and smaller organisational structures. Across fintech and software firms, there is growing pressure to reduce overhead costs and increase execution speed as investor expectations tighten. That pressure often translates into layoffs, consolidation of departments, and automation of internal processes. Bolt is one of the most visible examples of that shift.
Still, questions remain about long term impact. While short term efficiency may improve, critics argue that removing HR functions can create gaps in accountability, employee trust, and conflict resolution processes. Those gaps may not appear immediately, but they can surface later in ways that are harder to manage. For now, however, Bolt’s leadership appears committed to the model.
The company continues to operate under a leaner structure, with fewer employees, fewer internal layers, and a stronger emphasis on speed driven execution. And for Breslow, the HR decision is not framed as a disruption. It is framed as correction. A reset aimed at rebuilding the company from what he sees as unnecessary complexity. But whether that reset produces stability or new friction is something the industry is still watching closely.
