Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: "Those problems disappeared when I let them go"

Posted by fortune@reddit | collapse | View on Reddit | 18 comments

“We got rid of our HR team.”

For most executives, that’s a sentence likely to provoke intense anxiety. But for Bolt CEO Ryan Breslow, it was unavoidable.

Speaking at Fortune’s Workforce Innovation Summit on Tuesday, the 31-year-old defended sweeping workforce cuts at Bolt—including a recent layoff affecting roughly 30% of employees—as well as his decision to eliminate the company’s HR team.

“We had an HR team, and that HR team was creating problems that didn’t exist,” Breslow told Fortune editorial director Kristin Stoller. “Those problems disappeared when I let them go.”

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LowOne11@reddit

Other very large almost monopolist companies/corporations are doing this as well. Can’t mention specifically which major one, but I am sure you can guess. It is causing problems and definitely not employee-friendly.

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Lost_Birthday_3138@reddit

Why can't you mention it?

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LowOne11@reddit

NDA

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Lost_Birthday_3138@reddit

The billionaires are creating a lot of problems that definitely exist, feels like we should let them go too.

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AlwaysPissedOff59@reddit

"We had an HR team, and that HR team was creating problems that didn’t exist. “Those problems disappeared when I let them go.”

Just like how you can't find covid cases if you don't test for them!

Glad this clueless wunderkind is prepared for the inevitable lawsuits that will be filed after his management team screws up hiring new employees.

How do idiots like this guy become CEOs?

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ExplanationCrazy5463@reddit

By being trust fund babies

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collapse-ModTeam@reddit

Rule 3: Posts must be on-topic, focusing on collapse.

Posts must be focused on collapse. If the subject matter of your post has less focus on collapse than it does on issues such as prepping, politics, or economics, then it probably belongs in another subreddit.

Posts must be specifically about collapse, not the resulting damage. By way of analogy, we want to talk about why there are so many car accidents, not look at photos of car wrecks.

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parmboy@reddit

I got rid of the canaries and now the coal mines are 100% quieter #entrepreneur

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asyrian88@reddit

Is that the same thing as saying COVID is gone when we stop testing for it, or requiring the results to be shelved?

WE’RE CURED

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CleverInternetName8c@reddit

The statute of limitations for lawsuits is typically about two years most places

So, y’know, let’s check in on that shit in about 25 months.

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HawkeyeByMarriage@reddit

They stopped telling me what I was doing was wrong once I fired them. Now I have a new crew which agreees with the shit I want to pull

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IKnewThisYearsAgo@reddit

Art of the Deal.

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DeepHerting@reddit

Bolt currently markets itself as the “One SuperApp to rule them all”—a one-stop shop for sending money, earning rewards, and trading cryptocurrency—and has slimmed down to roughly 100 employees. According to Breslow, the company is succeeding without what he described as “big credentialed, pedigreed professionals.”

I was going to make a joke about him looking like Ryan Howard fished out of the lake after a few days, but this is the most Ryan Howard idea I've ever heard

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Kahnza@reddit

I wonder what "problems" he's talking about.

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DeepHerting@reddit

In recent months, Bolt has been plagued by rumors that it was taking back employees’ paychecks and that some contractors went unpaid. In his conversation with Fortune on Tuesday, Breslow denied that Bolt withheld funds from the staff.

That shrill little voice that kept chirping about getting sued is gone!

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