Companies Keep Slashing Employees’ Benefits for the Worst Reasons
Key takeaways
- A Texas tech consulting firm with a forgettable name—TTEC—suddenly became a lot more memorable when it suspended its discretionary 401(k) match program for 16,000 employees through at least the end of 2026.
- The auditing and consulting giant Deloitte is also reportedly slashing benefits for some workers starting next year.
- The latter is impossible to answer, and the former is unfortunately more complicated than “corporate ghouls go AI.”
Why this matters: a development in AI with implications for how people work, create, and decide.
Photo-Illustration: WIRED Staff; Getty Images Comment Loader Save Story Save this story Comment Loader Save Story Save this story Employee benefits are in the spotlight this week, and that’s because of three recent stories about US companies cutting back on non-wage compensations for workers.
A Texas tech consulting firm with a forgettable name—TTEC—suddenly became a lot more memorable when it suspended its discretionary 401(k) match program for 16,000 employees through at least the end of 2026. According to Business Insider, which viewed an internal TTEC memo, the company plans to invest in AI certifications, AI tools and training, and automation, among other things.
The auditing and consulting giant Deloitte is also reportedly slashing benefits for some workers starting next year. This includes reducing PTO, halving parental leave, and eliminating a $50,000 reimbursement for family planning services such as adoption, surrogacy, and IVF. San Francisco-based Zoom, meanwhile, has made a smaller-scale change and reduced its parental leave for employees from 22 weeks to 18 weeks for birthing parents.