The company, which launched its shares in New York last month<\/a> in one of the biggest IPOs this year, had taken savings from its payroll costs and reinvested them into paying its remaining employees more, Siemiatkowski said. The expectation was that wage costs would remain steady as its workforce declined, he has previously said.<\/p>\n Siemiatkowski, 44, said that society needed to \u201cfigure out\u201d how to respond to the disruption caused to the jobs market by the technology, which would create some new roles but hit others like translators. \u201cI feel there is a massive shift coming to knowledge work; and it\u2019s not just in banking, it\u2019s in society at large,\u201d the Swede said.<\/p>\n He foresaw \u201cconcerns for society\u201d about the adoption of the technology, particularly in the hands of non-democratic countries, but that it would be good for society overall.<\/p>\n \u201cIt means less excess profits in what has been not as well-functioning markets as they could have been,\u201d he said.<\/p>\n Klarna\u2019s New York IPO last month was one of the biggest this year<\/p>\n AP<\/p>\n Siemiatkowski<\/a> is the latest chief executive to acknowledge that jobs will be cut as a result of AI<\/a>, after Andy Jassy, the chief executive of Amazon, cautioned staff in June that the rollout of generative AI systems such as chatbots and AI agents \u2014 tools that carry out tasks autonomously \u2014 would reduce Amazon<\/a>\u2019s total corporate workforce in the next few years.<\/p>\n \u201cAs we roll out more generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs,\u201d Jassy told employees, in a rare explicit warning from a major chief executive of the potential impact of the technology on the workforce.<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/10\/\/7854ab1c-43c2-47f1-aa64-28b1dc7f3f93.jpg\")
<\/p>\n