Seeking to stave off losses and withstand macroeconomic headwinds, buy now-pay later provider Klarna and some of its fintech peers are tightening underwriting standards and chasing cost savings.
Swedish firm Klarna said last week it’s shedding more workers, after already cutting 10% of its workforce earlier this year and reporting losses quadrupled for the first half of the year. The BNPL provider now looks to restructure as it tries to become a smaller company balancing profitability pursuits and growth desires, Bloomberg reported.
