– When I can support members through their greatest challenges, I feel this is my calling.

This is how Sara Yonadam describes chairing our newly-founded branch at Klarna Bank, a position she took in the late winter of 2024. Handling around half of all online purchases in Sweden, Klarna Bank is a fintech player with major ambitions. Expansion in the US and stock market listing are just around the corner, along with a never-ending stream of technological innovations.

In short – there’s a great deal happening at this Swedish unicorn company. In her role as Delivery Lead at Klarna Bank, Sara heads the delivery of technical initiatives.

– It’s very exciting to work at Klarna, which always welcomes new things. AI, ​and everything that comes with it, are super interesting. It’s a blank page that we can take part in writing, she says.

Emergency c-section

On November 3, a collective agreement was signed between Klarna Bank, Finansförbundet and BAO, the banking and finance employers’ association. For several years, collective bargaining at Klarna Bank was conducted by Unionen and Sveriges Ingenjörer. When negotiations failed, the unions announced a strike. This action was called off when it became clear that Klarna Bank were willing to sign with BAO.

She describes the formation of the branch as surreal. This was not a local union that had grown organically but a newly-formed organization with 700 members who had recently changed membership.

– It was good that central office supported us so well because everything moved quickly and there was a great deal to learn. The board was born as if by emergency C-section, says mother of three Sara.

“I was well equipped to handle it”

The turbulent negotiations had created divisions among members, who were extremely unsettled. This is something Sara chose to address directly.

– I made it clear there was no reason for suspicion and stressed that we needed to work together. I was ready for the storm, which is actually why I accepted the role. I knew I was well equipped to handle it, says Sara.

In the spring, the board managed to secure a general salary increase of two percent. This was not part of the collective agreement we initially signed, in which Klarna Bank was allowed to keep parts of its existing salary model.

– Before we renegotiated, I don’t think our members really understood that Klarna had no obligation to award a general salary increase in 2024. We should have communicated it better.

The real turning point came after summer, when members had digested the turmoil from earlier in the year. Trust within the organization grew little-by-little, not least as the local union began supporting individual negotiations between members and the company.

More benefits from local negotiations

Another important victory was the introduction of equal overtime compensation for standby time. At Klarna Bank, all employees have an on-call week followed by a day off. Previously, the compensation differed according to position.

– We managed to negotiate the same compensation for everyone. I am very proud of that. It shouldn't matter if you work as a programmer or in customer services, we must value people's free time equally, says Sara Yonadam.

How is the relationship with Klarna Bank?

– I think it works very well. The relationship was founded in an emergency situation, which affected both us and them. I respect that, in a very short time, they settled on a collective agreement.

How are the company’s management in negotiations? How are discussions about its US expansion progressing?

– The concerns of our members are truly given a voice. Based on my own experience in leadership positions, I believe that employers have a right to know the feelings of their staff. I echo the unfiltered opinions of our members and have received empathetic and solution-seeking responses. In my experience, the company wants constructive dialogue and to do the right thing.

The relationship was put to the test when Klarna Bank announced it would start random workplace drug tests.

– Klarna was clear that they wanted to hear the thoughts and concerns of their employees. I spoke personally to the management team and expressed our members concerns.

Making a constructive contribution

The rush of forming a local branch at Klarna Bank is unlikely to be followed by a lull in activity. Sara points out that the effect of AI, in particular, will keep them busy. Developing a model for retraining employees whose work will be replaced by AI, is a priority.

– I’ve been thinking a lot about the future recently. Our aim is to remain valuable stakeholders within the company. We want to raise the employee perspective in a constructive way, which makes Klarna better. When a company has satisfied and secure employees, everyone wins. This is more than a job to me, concludes Sara.

Text: Alice Lindén
Photos: Jonas Eng