2023-01-26 00:01:00

Bolt lays off another 10% of workforce

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Finextra
By Editorial Team

Bolt has axed another 50 employees, meaning that the online checkout company has seen its headcount shrink by more than half in under a year.

This is at least the third round of layoffs at the firm since last May, according to The Information, which broke the story.

CEO Maju Kuruvilla told an all-hands meeting on Tuesday that “quite a few” of Bolt's recent moves, including partnerships, new products and acquisitions, had not worked out, says The Information.

The first round of layoffs, which hit 250 employees, came just months after Bolt raised $355 million at a valuation of $11 billion.

Continue read on finextra.com

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