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The tech company aims to leverage AI to achieve more with fewer employees.
As such, whenever an employee departs, the company doesn’t hire a replacement.
Over the past year, the financial institution’s workforce has shrunk from 5,000 employees to 3,800.
However, the tech company doesn’t hire new employees to replace those who leave.
This has allowed it to effectively reduce the size of its workforce by 20% annually.
Klarna’s interim financial report attributed the drastic changes in its workforce to a reliance on artificial intelligence.
“Not only can we do more with less, but we can do much more with less.
Internally, we speak directionally about 2,000 [employees].
We don’t want to put a specific deadline on that,” added Klarna CEO Sebastian Siemiatkowski.
The company further explains that its custom AI-powered chatbot can handle the workload assigned to 700 customer service employees.
The financial institution says the new approach boasts better customer ratings and reviews.
Klarna’s custom AI chatbot is also leveraged to facilitate the company’s marketing efforts.
Siemiatkowski says the company could consider an initial public offering (IPO).
“We have not yet taken any decisions.
It will happen in due course,” the CEO concluded.
