CEO Sebastian Siemiatkowski told Klarna’s more than 7,000 employees globally it was the “hardest” announcement the Swedish bank had made. He called 2022 “a tumultuous year” and blamed Russia’s war in Ukraine, a shift in consumer confidence, rises in inflation, a volatile stock market “and a likely recession” for the job cuts.
“While crucial to stay calm in stormy weather, it’s also crucial not to turn a blind eye to reality. What we are seeing now in the world is not temporary or shortlived, and hence we need to act . . . Based on this, the senior leaders of Klarna have made some really tough decisions. Some of the hardest ones we have ever had to make,” said Siemiatkowski.