Klarna lost about one-third of its valuation since last year. | Photo by Thomas Trutschel/Photothek via Getty Images
Klarna, the Swedish “buy now, pay later” service (BNPL), announced that it’s laying off 10 percent of its global workforce in a prerecorded video message, according to reports from Protocol and TechCrunch. The company currently has about 7,000 employees, and a 10 percent cutback puts the number of affected workers somewhere around 700.
BNPL services like Klarna, Affirm, and Afterpay allows users to purchase a product for nothing or a small fraction of its full price. Customers can then make incremental payments over a set period of time but will face a typically interest-free fee for any late payments. BNPL businesses soared at the height of the pandemic when many people were strapped for cash and had nothing else better to do than shop...
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.