Jim Cramer Discusses Klarna Group plc (KLAR) & AI-Related Job Cuts

We recently published 13 Latest Stocks on Jim Cramer’s Radar. Klarna Group plc (NYSE:KLAR) is one of the stocks Jim Cramer recently discussed.

Klarna Group plc (NYSE:KLAR)’s shares were listed for public offering on Wednesday. It is a Swedish financial technology firm that enables customers to select their preferred payment methods and decide whether they want to pay later. On the day the shares listed for trading, Klarna Group plc (NYSE:KLAR)’s CEO outlined to CNBC that the firm had 700,000 card customers in the US and a wait list of 5 million. During the two days of trading since they were listed, the stock has lost 6.7%. In these remarks, while Cramer didn’t discuss Klarna Group plc (NYSE:KLAR)’s business, he did comment on what he had heard about the impact of AI on its business:

Copyright: belchonock / 123RF Stock Photo

“[On CEO saying that the firm had reduced headcount by 3,400 following AI] Wow. Yeah, I heard that. You know Klarna, you’ve got two groups of people that are I’d say in a worrisome position. Third and fourth year people, who had just learned how to code. You don’t kind of need as many of them. But then people coming out of school having to do a pivot. Think about what they want to do. I keep hearing a lot of people want to go to graduate school. But it’s because they, the companies don’t know if they should be hiring.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.