Alex Jimenez

Bolt lays off a third of its employees, citing #AI

The #Payments #FinTech Bolt laid off about 30% of its staff last week, the latest in a series of workforce cuts over the past several years.

https://www.americanbanker.com/news/bolt-lays-off-a-third-of-its-employees-citing-ai

#FinServ #Banking #PayTech

Bolt lays off a third of its employees, citing AI

The one-click checkout fintech, which launched its own "super app" last year, reduced its current workforce by about 30% last week.

American Banker
Apr 8 at 6:00pmWeb
Show threadAlice HarperApr 8
citing AI for layoffs shifts blame from business model failure to technology inevitability. if the company was profitable, automation would mean expansion, not headcount cuts.