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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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Boss of Uber rival Bolt vows to crack down on remote work to stop ‘insanity of people working from Bali’

Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
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Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
Down Arrow Button Icon
October 24, 2024, 6:55 AM ET
Estonian founder and CEO of the mobility platform Bolt Markus Villig poses in Paris on September 15, 2021.
Bolt CEO Markus Villig reportedly said it was a “disgrace” that most staff weren’t making it into the office at least two days a week.ERIC PIERMONT—AFP/Getty Images
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Bolt, the Estonian rival to ride-hailing app Uber, is calling workers back to the office after its CEO decried his “disconnected” staff’s habit of working from idyllic destinations like Bali.

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The taxi company has partly reneged on its flexible work policy, which it believes led to staff being scattered across the globe. Bolt’s 4,000 employees will now be required to make it into the office 12 days per month, equivalent to around three days per week.

In an internal email to staff obtained by the Telegraph, Bolt CEO Markus Villig said the group had been too complacent in how it recruited staff, particularly around where they lived and worked.

“We are too scattered, people feel disconnected, attrition is too high, and our offices lie empty,” he said.

What’s really bothering the boss of Bolt, however, is the feeling that employees are effectively taking holidays on company time.

“We will stop the insanity of people working remotely from places like Bali. That is a vacation, not what we hired them to do,” he reportedly wrote.

Villig reportedly called it a “disgrace” that less than half of his employees were in the office at least two days per week.

The shift to hybrid means staff will still have some flexibility, but will need to live within travel distance to a Bolt office.

Bolt’s RTO mandate

Grete Kivi, Bolt’s global employer branding manager, shared in a LinkedIn post that reports of Bolt calling staff back to the office were “not that dramatic,” adding that job-hunting was a two-way street where bosses and employees both needed to find a suitable work setup. 

Her comments echo those of other employers, like Amazon and iPhone challenger Nothing, that have suggested staff not on board with a return to the office should seek alternative employment.

“Here’s the thing. Working at Bolt is not for everyone,” Kivi wrote.

“We’re fast-paced, and you’re expected to perform to the highest standard. Bolt has never been a remote-first company, and we’ve been clear about that from the start. Everyone who joins us knows this—it’s not a sudden change in policy.”

A representative for Bolt told Fortune: “We believe that in-person collaboration drives innovation and performance, and our existing policy advises employees to work from a Bolt office for two to three days a week.

“Starting from 1 January, this policy will be formalized with employees being asked to work from a Bolt office 12 days per month. We continue to listen to our colleagues and remain committed to fostering a culture that values engagement and innovation, while empowering people to work flexibly and effectively.”

Villig’s comments are the latest in a wave of company mandates to crack down on remote work. In September, Amazon introduced a more radical policy forcing staff to return to the office five days per week. Major banks have also led the way in getting staff into the office full-time.

Forrester, a market research group, says Amazon’s push could be a landmark moment that causes CEOs of other companies to “copycat” the move.

However, Forrester says that while the policy may work for companies who are keen to increase attrition, it could be a disaster for many firms keen to get workers back under their noses.

“Forcing the issue is a recipe for rebellion—quiet resistance, soaring attrition, and a hit to productivity,” the group wrote.

“Here’s the reality that most CEOs need to accept: Hybrid is here to stay. With 43% of workers already hybrid in 2024 and the number rising, those who resist this trend will find themselves outpaced in recruitment and talent retention.”

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
Ryan Hogg
By Ryan HoggEurope News Reporter

Ryan Hogg was a Europe business reporter at Fortune.

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