Bolt Layoffs 2026: News, Restructuring & Severance Pay in Canada

Bolt has confirmed that it did eliminate its entire HR team in 2025 — relying on its “People Operations” unit to oversee required training and serve as a resource for employees.

“We had an HR team, and that HR team was creating problems that didn’t exist,” CEO Ryan Breslow told Fortune’s Workforce Innovation Summit on May 20, 2026.

“Those problems disappeared when I let them go.”

In addition to scrapping the HR department, Breslow defended the cryptocurrency company’s decision to trim its workforce by approximately 30%.

If you’re a non-unionized worker or manager at Bolt in Canada, which is a provincially regulated employer, understanding these developments is the first step in ensuring your legal rights are protected during this period of restructuring.

Bolt Layoffs: A Timeline of Recent Job Cuts

• Dec. 2023: Bolt slashed 29% of its workforce in an effort to get the company to “an operating model optimized for sustainable growth and efficiency.”
• Jan. 2023: Bolt reportedly cut 10% of its workforce after experiencing issues with “quite a few” company projects.
• May 2022: Bolt has reportedly eliminated at least 100 go-to-market, sales, and recruiting positions.

Your Rights as a Non-Unionized Employee

Whether your departure is labelled a “layoff,” “restructuring,” or a “voluntary package,” your legal rights are governed by Canadian common law.

How Severance Pay Works

For non-unionized staff and managers at Bolt, severance pay isn’t determined by a single internal policy.

Instead, it’s based on the unique circumstances of your situation:

• The 24-Month rule: Depending on your age, length of service, and the nature of your role, you may be entitled to up to 24 months of severance pay.
• Managerial complexity: For managers, severance must often account for bonuses, RSUs, and stock options.
• Provincially regulated status: Because Bolt is a provincially regulated employer, specific rules under a province’s employment legislation apply alongside common law standards.

Defining Wrongful Dismissal

A “wrongful dismissal” is a specific legal term. It occurs whenever an employer in Canada terminates a non-unionized worker without “just cause” but fails to provide the proper amount of severance pay.

This isn’t a reflection of the company’s intent, but rather a calculation of whether the package meets the high standards set by Canadian courts.

If an employment contract’s termination clause is unenforceable, or if a “temporary layoff” is implemented without a prior written agreement, an employee may have a claim for full severance.

Recommended Steps for Affected Bolt Canada Staff

If you’ve been notified of job loss or offered a “voluntary departure” package at Bolt in Canada:

1. Don’t sign anything immediately: You’re legally entitled to a reasonable period to review any offer. Signing a release prematurely can waive your right to pursue full compensation.
2. Use the Severance Pay Calculator: Get an anonymous, instant estimate of your entitlements.
3. Check your compensation: Ensure your offer includes all variable pay, including bonuses and benefits.
4. Seek legal advice: An experienced employment lawyer can ensure that you receive fair compensation.

Bolt Layoffs: Frequently Asked Questions

Are layoffs at Bolt permanent?

For non-unionized employees, a layoff is typically treated as a permanent termination of employment requiring full severance.

Can a manager at Bolt negotiate a better deal?

Yes. Initial offers from large employers often focus on minimum standards rather than full common law entitlements.

Does Bolt have to include bonuses in severance?

Often yes — especially if bonuses were a regular part of compensation.

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Samfiru Tumarkin LLP has helped over 60,000 Canadians secure the compensation they’re owed, and has earned more than 3,000 5-star reviews across the country.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.