Bolt Loaned Employees Thousands to Buy Stock—Then Laid Them Off
In late May, employees of the fintech startup Bolt saw a message from their CEO on the company’s Slack. It warned them that “restructuring” was coming, and they should look out for a calendar invitation: One group would join a meeting with human resources, meaning they were being laid off, while another would go to a “town hall,” meaning they still had a job.By the end of the day, 250 employees—nearly one-third of the company—had been let go. The mood was sour. Among the bitterness and anger, some employees simply felt…