How Bolt’s AI Pivot Showcases an Evolution in Fintech Hiring

Fintech firm Bolt is reportedly cutting around one third of its workforce, according to Fintech Business Weekly.

The company, which positions itself as a provider of “best-in-class customer conversion through seamless and secure one-click checkout,” complemented by its finance and crypto SuperApp, appears to have made the decision to reduce headcount amid increasing investments in AI, Bolt says.

CEO and Co-Founder Ryan Breslow called the move “unavoidable” in an internal message shared via Slack, as first reported by Fintech Business Weekly.

His message says: “Going forward, Bolt will be operating as a much leaner organisation and leveraging AI at our core. 

“Developing products and operating in 2026 is very different than it was in prior years and we need to adapt as an organisation to be leaner and more AI-centric than ever to keep up with competition.”

Layoffs at Bolt

Bolt has already been through several rounds of layoffs.

In May 2022, the company reported that it was laying off around 250 employees amid restructuring pressures, with former CEO Maju Kuruvilla telling staff that the business was adjusting to a shifting market and sector-wide headwinds.

“It’s no secret that the market conditions across our industry and the tech sector are changing, and against the macro challenges, we’ve been taking measures to adapt our business,” he said.

“To laser focus on our core business and products, we will be prioritising our roadmap and making several structural changes.

“Unfortunately, this includes reducing the size of our workforce and parting ways with some incredibly talented people on our team as of today.”

The move followed the fintech firm’s US$355m Series E funding round.

In January 2023, the company laid off a further 10% of its workforce, taking total headcount down by more than half since May 2022.

More layoffs followed in December that year, when the company said it had cut 29% of staff to "reduce layers and roles across the company – setting ourselves up with the speed and agility required for the next phase of our business”.

Ryan Breslow’s return as CEO

The announcement comes about a year after Ryan Breslow was reinstated as Bolt's CEO.

He stepped down in early 2022 after seven years in the role, moving into the position of Executive Chairman, before later returning to the top job in March 2025 after the company’s valuation had fallen 97% from its US$11bn peak.

He said at the Fintech Meetup conference that the company had “learned a lot through the last three years of what doesn’t work,” and that he was “all in on Bolt for the long run”.