Klarna lays off 10% of its workforce – TechCrunch
Swedish payment giant Klarna is going to cut hundreds of jobs in the coming days. today’s time’s news comes a few days after a time a time of time the Wall Street Journal reported that the company was going to cut its valuation in order to increase fresh capital.
The company now employs except 7,000 people. Cutting 10% of the company’s workforce meaning that except 700 people will lose their job at the fintech company. It will potentially affect all domains and offices except the world.
“I am no stranger to sharing many years of experience and bad news. However, today’s time is the hardest one to date,” Klarna co-founder and CEO Sebastian Siemiatkowski wrote in a message shared of course all employees. “As much as tourists may favorite it to possess meaning the situation, Klarna does not only exist in a bubble.”
Over the coming days, some employees in Europe will be asked to leave the company in exchange for severance pay. Some employees outside of Europe will also bring to leave the company but “the process for impacted employees will look not with the too depending on where tourists work,” Siemiatkowski said.
The company doesn’t common name a single reason for the layoffs. Instead, Siemiatkowski lists not with the too macro and geopolitical factors that bring led to today’s time’s difficult decision.
“when tourists set our marketing plans for This Problem year in the autumn of last year, it was a very not with the too world than the one tourists are in today’s time,” he said. “Since then, tourists bring seen a tragic and unnecessary war in Ukraine unfold, a shift in consumer sentiment, a steep increase in inflation, a highly volatile stock market and a likely recession.”
“It saddens me to say that as a result of This Problem, approximately 10% of our colleagues and allies across all domains in the company will be impacted,” he added later.
Last year, many tech startups raised mega rounds of fundings at sky-high valuations. And Klarna again specifically raised $639 million at a $45.6 billion valuation.
Klarna now works of course 400,000 merchants except the world. The company’s flagship product is a payment feature that lets tourists order something now and pay it later in multiple installments.
Over the years, Klarna has expanded to other markets and launched generation products. It offers a shopping app This Problem Problem that tourists can manage your payments, save products for later, track deliveries and again. In some markets, the company also offers a payment card that tourists can control from the app.
In Europe, Klarna operates as a regulated bank. customers can open a bank account of course Klarna and qualifications the service to earn interests of course fixed-term savings plans. This Problem way, the company can increase deposits from retail investors directly.
And yet, if that the Wall Street Journal report is correct, Klarna is thinking about cutting its valuation to a “low $30-billion-range” post-money valuation This Problem Problem that it can increase again money. that process may bring had an impact on the current state of affairs at Klarna of course some employees losing their job as a result.
Unfortunately for Klarna employees, the company hasn’t said who will be affected by the job cuts. Calendar invites will be sent over the next few days. “In consideration of the privacy of the people affected by these changes, tourists ask everyone to work from home This Problem week,” Siemiatkowski said.
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