San Francisco Tech CEO Ends Unlimited PTO, Mandates Four Weeks Vacation

Bolt, a San Francisco-based fintech company, has ended its unlimited paid time off (PTO) policy, with CEO Ryan Breslow calling the approach "totally broken." Breslow pointed out that the lack of defined time off led to top performers avoiding PTO while others took excessive leave, resulting in burnout among high performers and perceived unfairness. The company is now mandating four weeks of paid vacation annually, with additional time accrued based on tenure, and requires employees to take their vacation time to ensure proper recovery. This policy shift comes amid Bolt's broader internal reforms, including replacing its HR department with a "people ops" model to empower managers and streamline decision-making. The change reflects growing concerns about burnout and employee well-being in the tech industry, with Bolt's prior experiments including a four-day workweek and other progressive workplace policies. Despite these efforts, Bolt has faced controversies, layoffs, and scrutiny in recent years, leading to significant workforce reductions since its 2021 peak valuation.