A CEO denied raises to spend money on AI instead
- Jun 8
- 1 min read
FORTUNE — While you’re worried about AI replacing you, it may already be cutting into your paycheck.
In January, global cloud software company Teradata told its 5,100 employees that there won’t be annual salary raises this year as the business shifts its budget toward AI investments, Business Insider reported.
The focus for 2026 is to “win in the market with AI,” CEO Steve McMillan said in an internal memo to employees. “We will fund this AI investment by reallocating the budget from 2026 annual salary adjustments,” he added. Teradata employees typically receive a 2% to 4% salary raise each year.
Read the full story | FORTUNE
