Bolt Confirms Another Round of Layoffs Amid Efforts to Optimize for Growth

The one-click checkout company, once valued at $11 billion, reduces its workforce by 29% in its latest round of layoffs.

Bolt, the e-commerce and fintech company, has confirmed another round of layoffs, reducing its staff by 29%.
This is not the first time Bolt has made significant cuts to its workforce, with several rounds of layoffs since 2022.
The company, which provides software to retailers to speed up checkout, was once valued at $11 billion and raised around $1 billion in total venture-backed funding.
In October, CEO Maju Kuruvilla stated that Bolt was working toward profitability and had plans to improve merchandise returns and provide personalized experiences around its universal shopper network.
Despite the layoffs, Bolt has announced partnerships with retailers, including Saks OFF 5TH, Shinola, Filson, Lafayette 148 and Toys”R”Us, in November.