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International Business Times UK
International Business Times UK
Technology
Stephanie Cruz

No Raises for 5,100 Workers as CEO Funds AI With Salary Budget — His Own 2025 Pay Topped $16M

Teradata Stacie Haller ResumeBuilder
CEO McMillan’s $16.1 million compensation in 2025 contrasts with the company’s freeze on employee pay. (Credit: Teradata Website)

Teradata CEO Steve McMillan told the company's 5,100 employees in January that their annual salary rises were being scrapped this year, with the money redirected towards artificial intelligence instead, according to an internal memo first obtained by Business Insider.

'We will fund this AI investment by reallocating the budget from 2026 annual salary adjustments,' McMillan wrote. The memo allegedly said the bulk of spending would go towards scaling the firm's AI capabilities and competing for talent in the AI market.

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