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The layoffs at Klarna

blog.pragmaticengineer.com

241–250 of 339 posts

Re: The layoffs at Klarna

#241
post #34

Wow, that sounds so poorly handled. Not figuring out a way to tell everyone affected at (nearly) the same time is probably the worst sin. Best layoff I ever went through was when my boss came to our team and said, "look, don't tell anyone, but we have a layoff coming in a few days. I have to let one of the three of you go. Do you want me to decide or do you want to decide amongst yourselves?". She knew we were good f…

Yea but try doing that with 700 people.

Re: The layoffs at Klarna

#242

Earlier quoted context omitted.

sure let’s replace a daily life sustaining activity with a celebratory product total disconnection and bastardization of the point of the phrase rare level of yuck here

Why did we (as an industry) go with “eat your dog food” instead of just “eat your own food”? I find the former disgusting each time I hear it.

IIRC there was an ad involving a dog food manufacturer feeding their own dogs the food they made. "Dogfooding" then became synonymous with using your own product.

Re: The layoffs at Klarna

#243

I was actually surprised to read that the Swedish CEO "took a dab at unions". Sure, relationships with unions can be complicated, but I've never heard an employer talk negatively about them here (maybe I'm just sheltered?). I am used to seeing union reps come to the office a few times a year for Q&As and feedback sessions, and taking about union membership was normal in internal channels. Never heard of anyone in lea…

From my experience, it's not very common in tech companies in Sweden. They often lack collective agreements and in the last company I worked at I never heard anyone talk about it or say they were a member.

Re: The layoffs at Klarna

#244
post #137

Should be noted that employment in Sweden is as far from “at will” as you can get. There is basically no legal difference between a union worker at a paper mill and a software developer at a startup (once it reaches a certain size). The law basically says that the last one in must be first out, and sidestepping this order requires negotiating severance with unions (yes also for white collar tech workers). So if you n…

The article makes it sound like this is a suggestion, not a requirement, for layoffs

"Last in, first out" is stipulated in law but you can still negotiate, which means the employee themselves quit and get compensated for it.

Re: The layoffs at Klarna

#245
post #14

> The culture of “we are awesome” has dominated most internal communications for the last couple of years, including in 2022. We all believed that we were awesome and would continue growing and winning. This is the big thing that drives me nuts . I don't know if it's a fragility of ego thing or what the cause may be, but it results in a corporate inability to critically self-evaluate at the highest levels. If you can…

I worked at a place where the executives constantly sent out company wide congratulations emails, to each other.

The HR director wrote “why it is a great time to work at X part 1” and then we did some layoffs… and part 2 was sent out the next day without missing a beat.

That company eventually stumbled and failed largely because they wouldn’t cancel a product that was clearly deficient (a far superior product was available but wasn’t invented by the established engineering manager, so they killed that product instead ).

Re: The layoffs at Klarna

#246
post #131

Earlier quoted context omitted.

Fwiw there is a more normalized practice that resembles this and is, afaik, not a massive hr risk: openly offering a voluntary severance with defined benefits. Obviously it's not a great signal to those who don't take it about the health of the company, and you might lose a bunch of people you'd rather not, but I think allowing some level of self-selection is good when it's possible.

I find it rather rare that a relatively compentent dev couldn't get approximately equal compensation working for some other company. So if offered $X for volutary severance, where $X at least N months total compensation, most devs who can get a similar job in less than N months will leave. This leaves you with least capable people, which is (usually) not what's wanted when doing layoffs. (This is of course assuming t…

What are reasonable ranges for N in a typical severance package?

Re: The layoffs at Klarna

#247
post #243

I was actually surprised to read that the Swedish CEO "took a dab at unions". Sure, relationships with unions can be complicated, but I've never heard an employer talk negatively about them here (maybe I'm just sheltered?). I am used to seeing union reps come to the office a few times a year for Q&As and feedback sessions, and taking about union membership was normal in internal channels. Never heard of anyone in lea…

From my experience, it's not very common in tech companies in Sweden. They often lack collective agreements and in the last company I worked at I never heard anyone talk about it or say they were a member.

The only companies I've worked for in Sweden have been tech companies, and union membership was very common. At EA we had a collective agreement, along with some other larger games companies here iirc. Many people are members but don't mention it unless it gets specifically brought up since it's such a non-event.

Edit: Was curious to find some numbers about this. I don't read Swedish fluently yet so having to use Google Translate, but one report I found from 2020 says that "Information and communication" (which I suspect IT/software engineering might fall into) has 69% membership [0]. It seems to say white collar workers actually have a higher membership rate than others at >70% overall; will look some more and add any other numbers I can find.

[0] - (page 13) https://www.lo.se/home/lo/res.nsf/vRes/lo_fakta_136602747878...

Re: The layoffs at Klarna

#248
post #14

> The culture of “we are awesome” has dominated most internal communications for the last couple of years, including in 2022. We all believed that we were awesome and would continue growing and winning. This is the big thing that drives me nuts . I don't know if it's a fragility of ego thing or what the cause may be, but it results in a corporate inability to critically self-evaluate at the highest levels. If you can…

> The self congratulatory back-patting HN is guilty of this constantly. Everyone who posts here is implicitly in the right and users unequivocally back that attitude, even when it realistically is a scenario of "maybe you were a shit employee and were fired for it and your employer isnt in the wrong?" or "your Show HN really isn't that impressive". We're not allowed to say anything critical of other HN users without…

> "maybe you were a shit employee and were fired for it and your employer isnt in the wrong?" or "your Show HN really isn't that impressive". We're not allowed to say anything critical of other HN users without being downvoted or reprimanded by dang.

These things absolutely can be said on HN, if you list some points that make you think so. If OTOH your comment ist literally just that one sentence then I don't see why it shouldn't get downvoted and flagged. This is not the YouTube comment section.

Re: The layoffs at Klarna

#249

Earlier quoted context omitted.

all businesses are risky. that's why we have capitalism and there are bunch of people who are willing to take the risk and rewarded for taking that risk

Rewarded for luring people into consumption loan debt? Great system.

debt is a fantastic instrument that solves a production / consumption mismatch of both individuals and humanity.

A 55 year old is the most productive member of a society, but that is also the age where you start to consume very little.

Imagine if you had to 'save' to get your college education, your home, a laptop, or starting a business. There is a reason we don't ask babies to 'pay up' for milk or shelter.

Imagine if Larry Page or Sergey Brin had to work and save to start Google.

Imagine if government had to save trillions of dollars before investing in Carbon Capture and renewable energy generations.

Yes, all good things can be abused. But you can't prevent good things for 95% society because a 5% of the society abuses it

Re: The layoffs at Klarna

#250
post #191
post #87

Earlier quoted context omitted.

1-3% of the transaction volume. That percentage is the 1.4 billion Klarna takes as revenue. The margins of that can be very high.

Are we sure that that's true? As a private company klarna can choose any metric they so desire as revenue...

What? Isn’t revenue kind of … revenue? What else can it be?
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