Swedish fintech giant Klarna has reached an agreement with workers that were set to strike next week

Sweden here. Just want to clarify why a Collective Bargaining Agreement ("Kollektivavtal") is so important.

In Sweden there is no minimum wage. It's perfectly legal to hire someone for 0SEK/month.
The reason is because the system is built on the idea of the employer representatives and employee representatives knows what conditions are viable in that specific business area. Not the politicians.
So every the years each area (banking, telecom, industrial manufacturing, school, health care etc etc) representatives from the employers associations meet up with the employee associations (unions) of The same area and negotiate.
The Collective Bargaining Agreement only sets the minimum. So that if an employer wants to give his employees an raise of 100000SEK a month it's ok.

Now, imagine an employer that is able to hire people for under the standard, that gives an unfair advantage.

So this is not only about making sure that Klarna compensates their employees fairly, it's also about stopping unfair competition.