The layoffs at Klarna
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The layoffs at Klarna
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Re: The layoffs at Klarna
#2Re item “The pay cut of 2020 which became permanent”: the Day Job I had in 2008 used that year’s onset of the Great Recession to stop annual raises and *never* brought them back — at least, not while I was still there, which was until early 2015.
Re: The layoffs at Klarna
#3Klarna generated $1.42 billion revenue in 2021, a 32 percent year-on-year increase. A majority of Klarna’s income comes from interchange, processing and merchant fees.
As Klarna has expanded its BNPL offering, its losses have increased. It reported a net loss of $730 million in 2021, a 337 percent increase on its 2020 loss.
I would say its surprising that this company is still in business at all with numbers like this.
Re: The layoffs at Klarna
#4I’m surprised to read that Klarna had 7500 employees. It seems to be a lot for an online payment company offering consumer loans.
What were the people doing?
Re: The layoffs at Klarna
#5With Klarna's valuation spiralling downwards, those bonuses in RSU's couldn't have been timed worst for the workers.
Re: The layoffs at Klarna
#6I’m surprised to read that Klarna had 7500 employees. It seems to be a lot for an online payment company offering consumer loans. What were the people doing?
> Klarna’s “Super App” was an area getting lots of investment in 2021. This investment was a step away from the core offering of the handling of payments. The vision of this app was to create an experience where people could do all their shopping within a Klarna super-app.
However, this super app never launched as planned. Internally, confusion arose when it emerged the super app would use scraped data from customers who were already partners of Klarna. The super app efforts are still progressing slower than originally planned, and some employees think the company is spending too much on this area for too little return.
Trying to come up with something out of nothing it seems
Re: The layoffs at Klarna
#7Klarna generated $1.42 billion revenue in 2021, a 32 percent year-on-year increase. A majority of Klarna’s income comes from interchange, processing and merchant fees. As Klarna has expanded its BNPL offering, its losses have increased. It reported a net loss of $730 million in 2021, a 337 percent increase on its 2020 loss. I would say its surprising that this company is still in business at all with numbers like thi…
> As Klarna has expanded its BNPL offering, its losses have increased. It reported a net loss of $730 million in 2021, a 337 percent increase on its 2020 loss
Yet the tone from the acticle is that employees appeared to think the company was successful?
Re: The layoffs at Klarna
#8With Klarna's valuation spiralling downwards, those bonuses in RSU's couldn't have been timed worst for the workers.
A 'deal' forced on you is almost always not to your benefit (or it wouldn't have to be forced).
Re: The layoffs at Klarna
#9I’m surprised to read that Klarna had 7500 employees. It seems to be a lot for an online payment company offering consumer loans. What were the people doing?
> Klarna’s “Super App” was an area getting lots of investment in 2021. This investment was a step away from the core offering of the handling of payments. The vision of this app was to create an experience where people could do all their shopping within a Klarna super-app. However, this super app never launched as planned. Internally, confusion arose when it emerged the super app would use scraped data from customers…
But can you keep thousands of people busy on such a project?
Re: The layoffs at Klarna
#10Klarna generated $1.42 billion revenue in 2021, a 32 percent year-on-year increase. A majority of Klarna’s income comes from interchange, processing and merchant fees. As Klarna has expanded its BNPL offering, its losses have increased. It reported a net loss of $730 million in 2021, a 337 percent increase on its 2020 loss. I would say its surprising that this company is still in business at all with numbers like thi…
That's insane -what's the magic event people believe will turn those losses around?