What They Did
Teleperformance was the world's largest customer service outsourcing company, employing hundreds of thousands of call center agents across the globe. They handled customer support for major corporations.
How LLMs Killed Them
Klarna's announcement that its OpenAI-powered chatbot replaced 700 full-time agents triggered investor panic about the entire BPO (Business Process Outsourcing) industry. The market realized that LLM-powered chatbots could handle a massive portion of customer service at a fraction of the cost.
Timeline
- February 28, 2024: Stock plunged 29% in a single day after Klarna's AI announcement.
- 2024: Revenue growth slowed to just 2%, signaling structural industry shift.
- Year-to-date 2024: Stock down 19.28%.
By the Numbers
- Stock crashed 29% in a single day
- Revenue growth slowed to 2%
- Stock down 19.28% year-to-date