Bolt has confirmed that it did eliminate its entire HR team in 2025 — relying on its “People Operations” unit to oversee required training and serve as a resource for employees.

“We had an HR team, and that HR team was creating problems that didn’t exist,” CEO Ryan Breslow told Fortune’s Workforce Innovation Summit on May 20, 2026.

“Those problems disappeared when I let them go.”

In addition to scrapping the HR department, Breslow defended the cryptocurrency company’s decision to trim its workforce by approximately 30%.

If you’re a non-unionized worker or manager at Bolt in Canada, which is a provincially regulated employer, understanding these developments is the first step in ensuring your legal rights are protected during this period of restructuring.

Bolt Layoffs: A Timeline of Recent Job Cuts

• Dec. 2023: Bolt slashed 29% of its workforce in an effort to get the company to “an operating model optimized for sustainable growth and efficiency.”
• Jan. 2023: Bolt reportedly cut 10% of its workforce after experiencing issues with “quite a few” company projects.
• May 2022: Bolt has reportedly eliminated at least 100 go-to-market, sales, and recruiting positions.

For updates on layoffs across Canada, including large-scale workforce reductions, see our Layoffs in Canada resource.

Your Rights as a Non-Unionized Employee

Whether your departure is labelled a “layoff,” “restructuring,” or a “voluntary package,” your legal rights are governed by Canadian common law.

How...

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