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International Business Times UK
International Business Times UK
Technology
Vinay Patel

This £5.5B Start-Up Laid Off 700 Employees 2 Years Ago, Says AI Does All Of Their Work

Klarna Gergely Orosz Sebastian Siemiatkowski Languages
Klarna claims its AI-powered chatbot has replaced 700 full-time employess. (Credit: Wikimedia Commons)

Klarna claims its AI-powered chatbot can now handle the workload previously managed by 700 full-time customer service agents. The statement comes two years after the $7 billion (£5.5 billion) "buy now, pay later" startup used by big brands like Versace, Nike, and Wayfair, laid off the same number of employees.

In December, Klarna CEO Sebastian Siemiatkowski announced a hiring freeze for all roles except engineering, further noting that artificial intelligence (AI) will handle tasks previously performed by laid-off employees.

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