Sebastian Siemiatkowski, CEO of fintech company Klarna, believes that AI has the capability to perform all jobs currently done by humans, leading to a halt in hiring at the company despite advertising job openings on its website. Critics say the company continues to bring in workers on green cards as it cuts established employees and builds AI tools.
Business Insider reports that in a recent interview with Bloomberg TV, Klarna CEO Sebastian Siemiatkowski expressed his strong belief in the potential of AI to replace human workers across various industries. The head of the Swedish fintech company, which offers “buy now, pay later” payment options and is connected with over 575,000 retailers, stated that “AI can already do all of the jobs that we as humans do” and that it’s merely a matter of how the technology is applied and utilized.
Siemiatkowski’s comments come amidst growing concerns about the impact of AI on the workforce and the potential for widespread job displacement. A 2023 report by McKinsey & Company projected that by 2030, approximately 12 million American workers would need to change occupations due to the advancement of AI technology. This forecast highlights the significant disruption that AI could cause in the labor market, requiring workers to adapt and acquire new skills to remain competitive.
Despite the company’s website advertising open positions, Siemiatkowski revealed that Klarna had stopped hiring about a year ago. The company’s workforce has since shrunk from 4,500 to 3,500 employees, primarily due to natural attrition. Siemiatkowski explained that, on average, employees stay with the company for about five years, resulting in a 20 percent turnover each year. By not actively filling these vacancies, Klarna has effectively reduced its workforce size.
Interestingly, Siemiatkowski mentioned that Klarna has communicated to its employees that while the total salary cost of the company will decrease, a portion of the resulting financial gain will be reflected in their paychecks. This suggests that the company may be looking to incentivize its remaining workforce as it navigates the challenges posed by AI and the evolving fintech landscape.
However, a spokesperson for Klarna clarified that while the company is not actively recruiting to expand its workforce, it is still backfilling some essential roles, particularly in engineering. This statement appears to contradict the job openings advertised on Klarna’s website, raising questions about the company’s actual hiring practices and the extent to which AI has already been integrated into its operations.
Critics point out that as Klarna loses established workers and is relying more on AI, it continues to sponsor green cards for immigrants to fill jobs instead of Americans.
Read more at Business Insider here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
