Story perspectives

Bolt CEO Slashes HR, Cuts 30% Staff, Valuation Plummets

5/20/2026

Summary

Story summary

Ryan Breslow, CEO of Bolt, eliminated the entire human-resources department while cutting roughly 30% of the workforce, leaving about 100 employees.
Bolt’s valuation fell from $11 billion in 2022 to about $300 million by 2024 after overspending and leadership changes.
Breslow returned as CEO in 2025 and described the company’s mode as “wartime,” replacing unlimited PTO and four-day weeks with a leaner startup culture.
He denied rumors that Bolt withheld employee paychecks.

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Story summary

Ryan Breslow, CEO of Bolt, eliminated the entire human-resources department while cutting roughly 30% of the workforce, leaving about 100 employees.
Bolt’s valuation fell from $11 billion in 2022 to about $300 million by 2024 after overspending and leadership changes.
Breslow returned as CEO in 2025 and described the company’s mode as “wartime,” replacing unlimited PTO and four-day weeks with a leaner startup culture.
He denied rumors that Bolt withheld employee paychecks.