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Tech firms freeze raises, boost AI spending despite losses

6/5/2026

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Summary

Story summary

Teradata CEO Steve McMillan froze 2026 raises for 5,000 U.S. staff to fund AI, allowing bonuses and stock awards to continue.
The freeze applies only where regulators don’t require raises, while Teradata reported a $36 million Q1 loss and cut 1,400 jobs.
TTEC paused matching until 2026 to fund AI, while an RBC Capital survey of 117 IT leaders found 90% plan to raise AI spending to 1.7% of revenue.

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Story summary

Teradata CEO Steve McMillan froze 2026 raises for 5,000 U.S. staff to fund AI, allowing bonuses and stock awards to continue.
The freeze applies only where regulators don’t require raises, while Teradata reported a $36 million Q1 loss and cut 1,400 jobs.
TTEC paused matching until 2026 to fund AI, while an RBC Capital survey of 117 IT leaders found 90% plan to raise AI spending to 1.7% of revenue.