High turnover, poor leadership, below market pay - Operations Manager Klarna Employee Review

Simply compare Klarna on Glassdoor to other companies in the same industry and you'll see just how terribly rated they are, and for good reason- complete leadership disconnect, poor pay & bonus structure, and a genuinely depressed culture characterized by large majority burnout with a few leaders desperately trying to keep spirits high but with little luck. What started as a fun job for an exciting, up-and-coming company 3.5 years ago quickly spiraled for the following reasons: Poor Leadership: - Oppressive top-down culture - Most processes are dictated by C-suite level, to the point where they actually join routine calls to ensure the most tedious and inconsequential practices are addressed, which only fueled a culture of resentment. - What was once an encouraging and autonomous culture regressed into one full of fear and tension. Terrible Incentives: - External meetings are tracked and then at the end of each week there's actually a poll showing which teams were the highest and lowest contributors. - Pay is below market rate. - Bonuses are non-existent. - After 3 years of covid we received only one 3% inflation raise, despite the company growing significantly each year and meeting most financial goals. Moreover, the entire process for the one raise we did receive was incredibly delayed and overhyped. - Each year they have you fill-out cumbersome performance plans and reviews that actually go nowhere. Overall, the company has deliberately created a high micro-management culture in preparation for an IPO with an obvious planned attrition strategy by way of increased oversight plus a slashing of benefits. What was once a great company that rewarded employees devolved into one that could care less about retention as the C-suite try to get rich quick and then promptly exit the company post-public offering.