Klarna Layoffs
May 2022
Klarna announced a layoff affecting 700 employees (10% of its workforce) in May 2022. The company operates in the Finance sector.
700
10%
May 23, 2022
About
Klarna, the Swedish fintech giant, is laying off approximately 700 employees, which represents about 10% of its global workforce of around 7,000. The decision, announced by CEO Sebastian Siemiatkowski in May 2022, is a response to a challenging capital market environment for fast-growing tech companies with high losses. The layoffs, affecting roles across the organization and primarily in Europe, are part of a broader cost-cutting trend in the Swedish tech sector, with companies like Trustly and Storytel also making reductions. This move coincides with reports that Klarna is seeking new funding at a significantly lower valuation than its previous peak, as the company aims to chart a clearer path to profitability.
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