'Those problems disappeared': Bolt CEO Ryan Breslow defends eliminating HR department
New Delhi, May 20
At a time when many companies are doubling down on workplace culture and employee wellbeing, fintech startup Bolt is taking a sharply different path.
Bolt CEO Ryan Breslow has defended his controversial decision to eliminate the company's entire human resources department, arguing that HR teams often create unnecessary complications instead of solving problems.
Speaking at Fortune's Workforce Innovation Summit, the 31-year-old founder said the move was part of a broader effort to restore speed and efficiency at the once high-flying fintech company.
"We had an HR team, and that HR team was creating problems that didn't exist," Breslow said during a conversation with Fortune editorial director Kristin Stoller. "Those problems disappeared when I let them go."
Founded in 2014, Bolt became one of the fastest-growing fintech startups during the pandemic-era tech boom, reaching a valuation of $11 billion in 2022. However, the company's fortunes later reversed dramatically. After Breslow stepped down as CEO that same year, Bolt's valuation reportedly fell to nearly $300 million by 2024 -- a decline of almost 97 per cent.
Breslow returned to lead the company in 2025 and described the current phase at Bolt as "wartime," requiring a more aggressive operational approach. Earlier this year, the company laid off nearly 30 per cent of its workforce and dismantled its HR division altogether.
According to Breslow, traditional HR structures are better suited for large, stable companies rather than startups trying to move quickly in a competitive environment.
"We're back in startup mode again, and those HR professionals have really important insights when you're in a peacetime and when you're at a larger company," he said.
Instead of a conventional HR department, Bolt has introduced a leaner "people operations" team focused on employee training and support functions.
Breslow has repeatedly voiced skepticism about traditional HR practices. In a LinkedIn post earlier this year, he wrote that "HR is the wrong energy, format, and approach," adding that people operations teams help companies "move at lightning speed" by empowering managers and streamlining decision-making.
At the Fortune summit, Breslow further criticized what he described as a culture of inefficiency inside HR teams.
"We need a group of people who are very oriented around getting things done," he said. "There is just a culture of not getting things done and complaining a lot."
— IANS
Reader Comments
Interesting perspective from Breslow, but this "wartime" mindset feels like an excuse to cut costs and shed responsibility. In Indian companies, we've seen similar things—remember when some startups fired whole teams and called it "restructuring"? The 97% valuation drop says a lot about the leadership problems at Bolt. HR isn't perfect, but employees need a support system. "People operations" sounds like a fancy name for doing less. 🤔
This is typical Silicon Valley overcorrection! They're swinging from "HR is everything" to "HR is useless." In India, we have a more balanced approach—HR is like the middleman between management and employees. Without them, who handles the cultural stuff? Breslow's company lost 97% value, so maybe the problem isn't just HR but the leadership itself. Jaise gaadi kharab ho toh driver hi mechanic ban jaaye? Not practical. 🚗
Honestly, I see where Breslow is coming from. In my experience with Indian MNCs, HR departments often feel like they exist to justify their own existence—endless forms, unnecessary meetings, and zero action on real issues. But completely removing the function? That's like throwing away the fire extinguisher because it hasn't been used. A leaner "people ops" could work if done right, but it needs accountability. Hope Bolt employees have a proper grievance channel! 🙏
"Those problems disappeared when I let them go" - this sounds like a red flag, yaar. If HR was genuinely creating problems, why not fix those specific issues instead of eliminating the whole department? In Indian companies, we see this kind of thinking often in founders who think they know everything. But employees need advocates, especially in a "wartime" environment. Let's hope this doesn't lead to exploitation or legal trouble. ⚠️
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.