Yes!  Lasers work by using a concentrated beam of light.  The light is absorbed by the melanin in the hair, which can damage the follicle enough to retard future growth.   Laser is considered permanent reduction (only electrolysis is considered permanent removal).  Since lasers work by focusing on the melanin in the hair follicle, treatment for people with blonde, red, grey or white hair is rarely successful as the color of the hair is not strong enough to attract the laser.  

 

Electrolysis works on all hair (and skin) colors because it uses a current, chemical or both to kill the entire lower part of the follicle (not just the hair).