Bolt cuts one-third of workforce in major restructuring. The one-click checkout fintech confirmed significant layoffs as it pivots toward artificial intelligence operations. CEO Ryan Breslow stated the company must operate leaner and more AI-centric to compete in 2026. The move reflects broader industry trends where automation reduces demand for certain roles. However, the cuts come amid concerning financial pressures, including reports that Bolt has struggled to pay vendors since January, including critical AWS contracts. The company previously offered employees equity at discounted rates instead of cash compensation. This represents Bolt's third workforce reduction in recent years, following cuts in 2022 and 2023. The layoffs mirror similar actions at Block, which cut roughly 40 percent of staff with comparable AI-focused justifications.
