Klarna job cuts | Video call redundancy announcements can spark outrage, but is the anger valid?

‘Buy Now Pay Later’ firm Klarna announced this week that it was cutting around 700 jobs, following months of financial struggles. The company’s CEO Sebastian Siemiatkowski shared the news, which will see approximately ten per cent of the 7,000-strong workforce leave the company, via a recorded video message.

In the clip, Siemiatkowski said the “tragic and unnecessary war in Ukraine... a shift in consumer sentiment, a steep increase in inflation, a highly volatile stock market and a likely recession” were the leading factors behind the company’s “very tumultuous year”.