Bolt CEO Ryan Breslow Defends Decision to Eliminate Entire HR Department Ryan Breslow, the founder and CEO of Bolt, has publicly defended his controversial decision to dismantle the company’s entire human resources department, calling the move a necessary step to streamline operations and improve efficiency. Speaking at Fortune’s Workforce Innovation Summit, Breslow argued that the previous HR team had created problems that did not exist, claiming their presence hindered the company’s ability to function effectively. “We had an HR team, and that HR team was creating problems that didn’t exist,” he told Fortune editorial director Kristin Stoller. “Those problems disappeared when I let them go.” Breslow’s remarks came amid a period of significant turmoil for Bolt, a one-click checkout fintech company that once soared to an $11 billion valuation in 2022. However, the company’s fortunes took a sharp downturn after Breslow stepped down as CEO that year. By 2024, Bolt’s valuation had plummeted to approximately $300 million, representing a staggering 97% decline. The drastic drop underscored the challenges the company faced during its transition from a high-growth startup to a struggling enterprise. Breslow returned as CEO in 2025, describing the intervening years as “wartime” for the company. During this period, he implemented sweeping changes, including a 30% staff reduction and the complete dismantling of the HR function. In place of the traditional HR department, Bolt established a smaller “people operations” team focused on training and employee support. Breslow emphasized that this shift was essential to align the company with its current startup mode of operation. “Traditional HR doesn’t fit a company operating in startup mode,” he stated.#linkedin #ryan_breslow #bolt #fortune_workforce_innovation_summit #kristin_stoller
