Current Message	Return to posts
From: Denc 🗡
Love it…… Tech boss sacks HR team for ‘creating problems that didn’t exist’ Founder of US fintech firm Bolt was reinstated as chief executive last year A tech boss has sacked his company’s entire HR team after they created “problems that didn’t exist”. Ryan Breslow, the chief executive of US payment company Bolt, said he had axed the department to combat the “sense of entitlement” across the company. Mr Breslow, who founded the business in his Stanford dorm room in 2014, left the company in 2022 but was reinstated as the chief executive in March last year. Bolt axed 30pc of its staff last month in an effort to turn around its fortunes. “We had an HR team, and that HR team was creating problems that didn’t exist,” Mr Breslow told Fortune’s Workforce Innovation Summit this week. “Those problems disappeared when I let them go.” Mr Breslow has criticised HR, writing on LinkedIn last year that he wanted staff to be “more focused on efficiency and less focused on fluff”. He initially rebranded the HR department to “people ops”, saying it had the “wrong energy, format, and approach”. “People ops empowers managers, streamlines decision making, and keeps the company moving at lightning speed,” he said. Bolt saw its valuation soar to $11bn (£8.8bn) in 2022 before falling to around $300m two years later – a decline of nearly 97pc. Mr Breslow criticised the culture that had developed at the company in his absence.

Current Thread	Author	Time
Love it……...[more]	Denc 🗡	14:31:29
>> HoRse Bolted	Hamsterwheel	14:34:37

You must log in or register before you can post messages (you'll be returned to this page once logged in).