John Craske, a spokesperson for the Swedish fintech company, told The Logic that fewer than 100 employees globally would lose their jobs as part of a restructuring under newly-appointed COO Camilla Giesecke. The layoffs were first reported by Bloomberg. (The Logic, Bloomberg) 

Talking point: The short-term-loan provider laid out an aggressive expansion plan in Canada earlier this year after establishing its North American headquarters in Toronto, with plans to hire 500 engineers and open additional offices in Vancouver and Quebec. Klarna said it would lay off 10 per cent of its 7,000-person workforce in May amid broader retrenchment across the fintech sector. “Our ambitions, goals and targets remain the same, so to be clear there is no impact for our growth plans in Canada,” Craske said in an email.