Bolt chief executive denounces remote working as ‘Madness’

The chief executive of Estonian mobility giant Bolt has launched a scathing critique of remote working practices, mandating a return to office for the company’s global workforce.

In a strongly-worded internal memorandum obtained by The Telegraph, CEO Markus Villig expressed his dismay at staff working from far-flung locations such as Bali, describing such arrangements as “disconnected” and symptomatic of overly “complacent” recruitment practices.

Villig noted with disapproval that less than half of Bolt’s workforce was attending the office for even two days weekly, denouncing this as a “disgrace”. He stated emphatically, “We shall put an end to the madness of people working remotely from places like Bali. That constitutes a holiday, not what we employed them to do.”

A Bolt spokesperson confirmed to Fortune that beginning 1 January, the company will implement a hybrid working policy requiring staff to be present in the office for 12 days monthly. The move mirrors similar initiatives by other tech giants, including Amazon, which have revised their remote working policies following the widespread adoption of hybrid models during the COVID-19 pandemic. However, industry observers warn that an inflexible approach might spark resistance and affect staff morale, potentially impacting productivity and corporate performance.

Founded in 2013 under the name Taxify, Bolt has evolved from a ride-hailing service to encompass short-term car hire, ride-sharing, food delivery and electric scooter rentals. The company now serves more than 150 million customers and partners with 3 million drivers and couriers worldwide.

Bolt has revealed plans for an initial public offering in 2024, despite posting a £91.9 million loss against £1.7 billion in revenue for 2023.​​​​​​​​​​​​​​​​