CompaniesBIO

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images HELSINKI, Finland — Klarna will become profitable again by next year after making deep cuts to its workforce, CEO Sebastian Siemiatkowski told CNBC. Klarna lost more than $580 million in the first six months of 2022 as the buy now, pay later giant burned through cash to accelerate its expansion in key growth markets like the U.S. and Britain. Under pressure from investors to slim down its operations, the company reduced headcount by about 10% in May. Klarna had hired hundreds of new employees over the course of 2020 and 2021 to capitalize on growth fueled by the effects of Covid-19. "We're going to return to profitability " by the summer of next year, Siemiatkowski told CNBC in an interview on the sidelines of the Slush technology conference last week. "We should be back to profitability on a month-by-month basis, not n...

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images HELSINKI, Finland — Klarna will become profitable again by next year after making deep cuts to its workforce, CEO Sebastian Siemiatkowski told CNBC. Klarna lost more than $580 million in the first six months of 2022 as the buy now, pay later giant burned through cash to accelerate its expansion in key growth markets like the U.S. and Britain. Under pressure from investors to slim down its operations, the company reduced headcount by about 10% in May. Klarna had hired hundreds of new employees over the course of 2020 and 2021 to capitalize on growth fueled by the effects of Covid-19. "We're going to return to profitability " by the summer of next year, Siemiatkowski told CNBC in an interview on the sidelines of the Slush technology conference last week. "We should be back to profitability on a month-by-month basis, not n...