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Payments startup to lay off 250

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Payments startup Bolt Financial Inc. is laying off 250 people, a source familiar with the matter told Bloomberg.

The figure is equal to about a third of Bolt’s workforce.

"In an effort to ensure Bolt owns its own destiny, the leadership team and I have made the decision to secure our financial position," said Bolt CEO Maju Kuruvilla, in a blog post.

Read more from Bloomberg.

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