Fintech boss defends sacking entire HR department for ‘creating problems that didn’t exist’ Tech US fintech Bolt has become the latest company to openly link job cuts and restructuring to AI, after chief executive Ryan Breslow defended scrapping the firm’s HR department during a recent round of layoffs. Speaking at a Fortune event Breslow said Bolt’s HR function had become counterproductive as the company attempted to streamline operations. “We [...]
Bank of London: Peter Mandelson-backed fintech sees losses widen Banking The Bank of London’s parent company had made another steep loss in fresh accounts that were delayed for the second consecutive year. The embattled clearing bank’s parent company, Oplyse Holdings, made a loss of £46.9m in 2024, bringing the firm’s cumulative deficit to £167.7m. Fresh accounts for Oplyse Holdings – which was formerly known as [...]
BBC to cut 2,000 jobs ahead of Matt Brittin takeover Media The BBC is set to cut up to 2,000 jobs in its largest round of redundancies in 15 years, as the broadcaster accelerates cost-cutting plans ahead of a leadership change next month. Staff were briefed on the proposals at a company-wide meeting on Wednesday, with the cuts expected to affect roughly 10 per cent of [...]