Klarna’s Workforce Cut: Fintechs Come to the Rescue

Klarna, a Swedish BNPL firm, confirmed earlier this week that it is planning to lay off almost 10% of its international workforce. Due to the scale of Klarna, a large number of employees were affected by the announcement including people working at its headquarters.

The company has already started the process. Through a conversation invitation entitled “Meeting regarding your role at Klarna”, the fintech firm has informed hundreds of employees about the impact of the company’s decision.

“Unfortunately, after accepting my role at Klarna opportunity just a few months ago, I was one of the 10% impacted by the Klarna layoffs. With that being said, I am officially in the market looking for a new opportunity. I'm also wishing all the best to my other colleagues affected. I feel you and let's support each other in these difficult times,” Victor Oliveira, the Learning and Development Project Manager for Talent Acquisition at Klarna, said in a LinkedIn post.

But, not all fintech companies are cutting jobs. Social media platforms were flooded with posts from companies announcing their support and opening new job opportunities for those people affected by Klarna’s recent decision.

Fintech Community

Fintech giants, including Revolut and Wise, announced that they are hiring for several roles across different business segments. Revolut alone has more than 250 open positions listed on its website.

“Years of building Wise as a profitable long-term company is paying off now. We're in such a different place to other tech companies, that are working on layoffs. So much demand for international banking, we can't hire people fast enough to build it. 385 open roles,” Kristo Kaarmann, the Chief Executive Officer at Wise, said.

Among others, Payabl also announced its support for fintech professionals. “I truly sympathize with Klarna employees, and we are happy to explore and help those who are looking for new opportunities. With our offices in Germany, the UK and Cyprus we have a wide range of positions open and will be happy to discuss [them] further," Ugne Buraciene, the Group CEO at Payabl said.