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Klarna – Company announcement from CEO regarding layoffs

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Re: Klarna – Company announcement from CEO regarding layoffs

#31

Post by rvnx »

atty wrote: post #21

Honestly, what a terrible letter. Did not once say the words layoff or let go. Using phrases like “continue to be part of klarna’s journey”. Good lord, is this a business or a cult? And not a single line about concrete steps they will take to support the layoffs (multi-month severance packages, etc). Hopefully that is what they intend, but as of right now, this is pretty disappointing.

I feel it's better to use "fired" or "have to leave your job" or "layoff" or "terminate the employment contract" than "let go".

Because "let go" is to "allow someone or something to escape or go free" so it implies that you are the owner of the employee and you allow him to leave, just like as an ultimate humiliation he has to have your permission to go.

Re: Klarna – Company announcement from CEO regarding layoffs

#32

Post by mytailorisrich »

darrenf wrote: post #18
aabhay wrote: post #4

What does it look like to fire someone in Europe? As an outsider, all I’ve heard is that it looks very different from the US. What does the author mean by ‘associated compensation’?

To me in the UK, "fire" generally refers to letting someone go because of incompetence, bad behaviour, or whatever - the role will still exist but the individual is let go. In which case you're entitled to whatever your contract says, which is probably "stop now and we'll pay off your notice period". Whereas layoffs and redundancies mean the roles are disappearing, the individuals being a side-effect (indeed, you are…

Note that they are not require to negotiate notice, pay, etc. which are already specified in contracts and statutes.

What they are required to do if they plan to make more than 20 people redundant is to conduct a formal 'consulation', which means that they have to discuss with the employees potentially concerned about the reasons and how to keep redundancies to a minimum.

Companies may offer more than they have to for the sake of their reputation and for goodwill, and (maybe especially) to make employees sign terms that they won't sue and won't discuss the matter.

Re: Klarna – Company announcement from CEO regarding layoffs

#33

Post by rvnx »

altdataseller wrote: post #11

“ As much as we may like it to be the case, Klarna does not exist in a bubble” Klarna can only exist in a bubble.

The way I read it the first time: "As much as we may like it to be the case, Klarna cannot exist in a bubble (that has exploded)"

Re: Klarna – Company announcement from CEO regarding layoffs

#34

Post by rmbyrro »

atty wrote: post #21

Honestly, what a terrible letter. Did not once say the words layoff or let go. Using phrases like “continue to be part of klarna’s journey”. Good lord, is this a business or a cult? And not a single line about concrete steps they will take to support the layoffs (multi-month severance packages, etc). Hopefully that is what they intend, but as of right now, this is pretty disappointing.

I actually found it a humane way of dealing with the situation.

They let everyone know in advance. Have the decency of individual communication. Anticipated what type of invite to expect. Promised to roll out quickly, in a matter of days.

I mean, probably not the "perfect" layoff, but certainly not close to worse, or even "terrible".

Re: Klarna – Company announcement from CEO regarding layoffs

#35

Post by nowherebeen »

rvnx wrote: post #31
atty wrote: post #21

Honestly, what a terrible letter. Did not once say the words layoff or let go. Using phrases like “continue to be part of klarna’s journey”. Good lord, is this a business or a cult? And not a single line about concrete steps they will take to support the layoffs (multi-month severance packages, etc). Hopefully that is what they intend, but as of right now, this is pretty disappointing.

I feel it's better to use "fired" or "have to leave your job" or "layoff" or "terminate the employment contract" than "let go". Because "let go" is to "allow someone or something to escape or go free" so it implies that you are the owner of the employee and you allow him to leave, just like as an ultimate humiliation he has to have your permission to go.

Fired means you did something wrong. Let go means you were let go of your job through no fault of your own.

Re: Klarna – Company announcement from CEO regarding layoffs

#36

Post by phphphphp »

The worst possible way to handle it:

1. Tells everyone that they’ll get an email in the next few days about whether or not they’re to be fired — days of anxiety ahead for everyone, and even those who aren’t being let go will be looking for new roles

2. Asking everyone to work from home, so those who are let go are isolated from their peers who they very probably want to commiserate with and say goodbye to

What a terrible self-inflicted error.

Re: Klarna – Company announcement from CEO regarding layoffs

#37

Post by kasperni »

aabhay wrote: post #4

What does it look like to fire someone in Europe? As an outsider, all I’ve heard is that it looks very different from the US. What does the author mean by ‘associated compensation’?

It really depends on the country. In Denmark if a company have massive layoffs. You would probably continue working for a couple of month if you wanted to. Also the company world typically help employees with finding a new job, pay for extra training etc.

I don't think you will see much of the "you got two hours to pack your stuff and then you are out" like in the US. In Europe most people will "finish" their job independently of whether they were fire or quit them self.

Re: Klarna – Company announcement from CEO regarding layoffs

#38

Post by ushakov »

ganoushoreilly wrote: post #8

Another indicator consumer spending is dropping and costs are going through the roof. This is probably the first of a bunch of layoffs sadly. I expect Finances (Banks / Mortgage providers) are going to be aggressively reducing headcounts in the near future. One side of my family is heavily in that industry and they're all extremely nervous. Sorry for anyone that lost their role, it's always tough to lose a job regard…

look out for yourselves too

startups can’t exist without free vc cash that’s going to be tight soon-ish

Re: Klarna – Company announcement from CEO regarding layoffs

#39

Post by dvt »

atty wrote: post #21

Honestly, what a terrible letter. Did not once say the words layoff or let go. Using phrases like “continue to be part of klarna’s journey”. Good lord, is this a business or a cult? And not a single line about concrete steps they will take to support the layoffs (multi-month severance packages, etc). Hopefully that is what they intend, but as of right now, this is pretty disappointing.

What a weird comment. The letter was perfectly fine. Firing a bunch of people is hard, impacts morale, and it's important to make sure people that you keep onboard don't panic. The letter didn't seem culty to me at all, and supporting layoffs was clearly addressed and will be done on regional-specific terms. Lawyers look at this kind of correspondence and tone down the language in some cases.

Re: Klarna – Company announcement from CEO regarding layoffs

#40

Post by nathancahill »

Pixeleen wrote: post #29
throwaway5959 wrote: post #2

No longer a part of Klarna’s journey. barf

Right? I missed that part of the sentence, because the first part caught me: the vast majority of Klarnauts won’t be impacted It's not the time to use this made-up name for insiders when you're saying that many of them will soon be outsiders. "Will all the Klarnauts please step forward. Not so fast, Jake."

"If you're not against me, don't cross this line. If yes, do. I love you all."
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