Bolt Cuts 29% of Staff, Second Reduction This Year

Bolt has eliminated 29 per cent of its workforce.

The reduction marks the one-click checkout company’s second layoff of the year. In January, Bolt reportedly trimmed its headcount by 10 per cent.

What’s happening at Bolt?

In an emailed statement, a Bolt spokesperson told TechCrunch that the job cuts, which took place last week, are to get the company to “an operating model optimized for sustainable growth and efficiency.”

“We made the difficult, but important, decision to reduce layers and roles across the company — setting ourselves up with the speed and agility required for the next phase of our business,” the statement reads.

Bolt didn’t disclose which roles were affected by the reduction.

Bolt Cuts in Canada

It remains unclear if any Canadian employees at Bolt were let go.

According to the company’s LinkedIn page, it has more than 30 workers in the country.

📺 WATCH: Everything You Need to Know About Mass Terminations

Lost Your Job? Get Help Now

📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.

Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.

If you’ve lost your job at Bolt for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.