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Klarna to cut 10% of workers as war and inflation dent economy

Buy-now-pay-later company blames inflation, war in Ukraine and other factors for redundancies

Klarna’s chief executive and co-founder, Sebastian Siemiatkowski, explains upcoming staff cuts: ‘When we set our goals for 2022 in the autumn, it was a very different world than the one we have today’
Klarna’s chief executive and co-founder, Sebastian Siemiatkowski, explains upcoming staff cuts: ‘When we set our goals for 2022 in the autumn, it was a very different world than the one we have today’ Photo: Bloomberg via Getty Images

Buy-now-pay-later giant Klarna is to lay off about one in 10 of its employees, as the company battles a worsening economic climate.

Klarna's chief executive and co-founder Sebastian Siemiatkowski said in a blog post on 23 May that the layoffs were a result of deteriorating market conditions caused in part by Russia’s war on Ukraine and rising inflation.

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