Another nutty CEO story.
That's the thing with these doofuses. It is always someone else's fault, not theirs. Instead of finding out what they are complaining about, he just fired them all.

If he hires the next set of HR people, they know very well to keep their mouths shut and pretend they didn't see issues, which would then not get fixes leading to more problems.

Ah yes, we always have "AI" that magically fixes all problems.



CEO Says He Fired Entire HR Team for 'Creating Problems That Didn't Exist'
https://people.com/ceo-says-he-fired-entire-hr-team-for-creating-problems-that-didnt-exist-11979483

Quote:

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Ryan Breslow, the CEO of fintech company Bolt, spoke at a Fortune magazine conference on May 19 about firing his human resources team, alleging they "created problems that didn't exist"

"We need a group of people who are very oriented around getting things done, and there is just a culture of not getting things done and complaining a lot," Breslow said

The fintech company had seen its valuation decline dramatically in recent years

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Quote:

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The CEO of a fintech company defended the dismissal of its human resources team, claiming those employees were responsible for issues that later went away following their departures.

"We had an HR team, and that HR team was creating problems that didn't exist," Ryan Breslow, the head of Bolt, said at Fortune's Workforce Innovation Summit in Atlanta on Tuesday, May 19, the magazine reported. "Those problems disappeared when I let them go."

Breslow, who co-founded Bolt in 2014, said that the move, which was part of a 30% reduction of its workforce in April, was to help revive his struggling company.

"Going forward, Bolt will be operating as a much leaner organization and leveraging AI at our core," Breslow told his employees about the job cuts at the time, Payments Dive reported.

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There you go! "Leveraging AI". The real reason. This "complaining" is just a sham.

I'm sure this guy's wife complains a lot. I fear for her.

Quote:

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Bolt, whose valuation was worth $11 billion in 2022, had seen a dramatic decline in its fortunes, Fortune reported. In 2024, the valuation dropped to about $300 million. That same year, Breslow stepped down as Bolt CEO but then returned in 2025.

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BWAHAHAHHAHA. When does the valuation go down to Zero?

This guys business skills seem a little suspect with his recent 'success'.

Took a company worth $11 billion down to just $300 million in less than two years and is being investigated by multiple regulators and law enforcement agencies.

I've never seen an HR function who can have that kind of impact on a business, either positive or negative. At a company that small he probably had a grand total of two HR people or less anyway. Tiny by industry standards.

I'm curious whether he'll follow in Elizabeth Holmes' footsteps.

I just did some reading on his company, and it sounds like their entire HR department was probably one or two people.

Hahaha, you guys seem waaaaaaay too riled up regarding HR people!!!

There must be some stories there!!

All joking aside, I did do a bit more reading into what his rationale was, and while the story seems a little overblown for such a small company with maybe one or two total HR people, his comments about HR in a fast moving company make sense.

TxSquarebody said:

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HR is the most worthless department in any company and a net drain. Prove me wrong!

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I don't disagree.
But this clown CEO is the one responsible for tanking the company and he's blaming HR.

If it is anyone who needs to get canned it's the CEO.

As a lawyer who profits from litigation, I can say with confidence that a CEO who fires his entire HR department is good for business! Mine… not his.

Sweep4-2 said:

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I just did some reading on his company, and it sounds like their entire HR department was probably one or two people.

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Oh really! Wow. I didn't know that. Yet another CEO made in heaven. Let me check Linkedin...

brb...

Hmm total 799 people. You are right, just 2 people.
https://www.linkedin.com/company/bolt-com/people/?keywords=recruiter

Im Gipper said:

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Thread did not go as expected for OP!

HR is terrible!!

Another Hero CEO saves the day!!

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Why do feel so? Every thread exposing CEO behavior goes as per expectation.
He drove his 11B company to 300M and is blaming 2 employees in HR.

I say this thread is a mega success.

Pichael Thompson said:

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End of thread on first reply

Hr is a useless clownshow w nonstop delusions of grandeur

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I am on board.

HR and CEOs are both useless.

I hate to tell yall this…..but that nasty group that handles employee paychecks (payroll) is HR….mind blown!!!

But it's still HR....even if outsourced.

All kidding aside, I know some real idiots that work in HR. And I also know some real idiots that work in engineering, accounting, IT, sales and Legal.

Man, I know a LOT of idiots haha....that has to say something about me!!

TxSquarebody said:

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HR is the most worthless department in any company and a net drain. Prove me wrong!

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Withiut it there's no lets let everyone leave early on Friday Seems every other Friday it was like clockwork.

Oh man, I hate to admit this....but this is a subject I know a ton about (although I'm not an HR person).

Your comments are accurate re outsourcing, self supporting and AI. All overhead functions...Legal, IT, Finance, Accounting, Marketing, HR, External Affairs, Recruiting have been impacted significantly with much more impact to come. AI is impressive, and in a day and age where very few companies are hiring, you really don't need a recruiting team.

For some reason, I feel the need to also admit that I'm an experienced Brazilian Jiu-Jitsu Black Belt and wrestler if that buys me any protection from being accused of being a wimpy HR sounding person haha.

Sweep4-2 said:

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Oh man, I hate to admit this....but this is a subject I know a ton about (although I'm not an HR person).

Your comments are accurate re outsourcing, self supporting and AI. All overhead functions...Legal, IT, Finance, Accounting, Marketing, HR, External Affairs, Recruiting have been impacted significantly with much more impact to come. AI is impressive, and in a day and age where very few companies are hiring, you really don't need a recruiting team.

For some reason, I feel the need to also admit that I'm an experienced Brazilian Jiu-Jitsu Black Belt and wrestler if that buys me any protection from being accused of being a wimpy HR sounding person haha.

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Lol, you're funny. And I agree with you also.

Never heard of "Bolt", which is weird since i was in IT for the finance division of one of the word's largest telecoms, for nearly 20 yrs.

Hmmm, maybe "Bolt" sucks ass. HR or not.

HR is a make-work job and is not necessary.

BigRobSA said:

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Never heard of "Bolt", which is weird since i was in IT for the finance division of one of the word's largest telecoms, for nearly 20 yrs.

Hmmm, maybe "Bolt" sucks ass. HR or not.

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It seems to be on a similar trajectory as Theranos or WeWork.

Vestal_Flame said:

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As a lawyer who profits from litigation, I can say with confidence that a CEO who fires his entire HR department is good for business! Mine… not his.

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Based on what? How would firing an entire HR team be good for your business? Unless it is a breach of contract situation or violating one of the few at-will firing exceptions.

Do HR personnel have statutory or other legal protections I'm unaware of?