Klarna CEO defends business despite massive losses and layoffs

Klarna CEO Sebastian Siemiatkowski has defended his company’s business model and the controversial “buy now, pay later” industry.

Klarna gives customers the option of when to pay for an item — they can pay upfront, pay in installments or delay payment for a certain period of time. Critics say this enables people to buy things they might not necessarily be able to afford, although Klarna says it runs affordability checks to ensure that…