UMVA has learned that the CEO of fintech giant Bolt has come out swinging in defense of his drastic decision to axe the company's entire human resources department, claiming the team was a perpetual thorn in the side, conjuring up problems that didn't need to exist.
The bold move has raised eyebrows across the industry, but the CEO remains unapologetic, telling a gathering of business leaders that the HR team's issues "disappeared" the moment they were let go, implying that the department was more hindrance than help.
According to information obtained by UMVA, the sudden and sweeping decision to eliminate the HR department has left many employees and industry observers stunned, wondering if such a drastic measure was truly necessary, and what implications it might have for the company's future.
The CEO's forthright defense of his decision has sparked a heated debate about the role of HR in modern business, and whether the traditional functions of the department can be performed more efficiently through automation or other means.
