Fintech unicorn Bolt reveals layoffs

Bolt Financial, a rising startup that was able to raise $355 million in venture capital funding earlier this year, is joining a growing number of tech firms that are laying off staff. A third of Bolt's employees — about 250 workers — will lose their jobs, reports Bloomberg. The fintech unicorn, recently valued at almost $11 billion, announced the layoffs on Wednesday, citing “structural changes” and “macro challenges.” The company constructs software to streamline the checkout process for retailers and customers.