TTEC Suspends 401(k) Match for 16,000 Workers as Deloitte and Zoom Trim Leave

2 articles · Updated · WIRED · May 15

TTEC halted its discretionary 401(k) match for 16,000 employees through at least the end of 2026, saying it will redirect spending toward AI tools, training and automation.
Deloitte and Zoom also cut non-wage benefits: Deloitte reduced PTO, halved parental leave for some internal staff to 8 weeks and ended a $50,000 family-planning reimbursement, while Zoom lowered birthing-parent leave to 18 weeks from 22.
Rising benefit costs are a key driver. Mercer found healthcare costs per worker are projected to climb 6.5% in 2026 after cost controls, and nearly 9% without them, as ACA subsidy lapses pushed some workers off plans and insurers raised premiums.
Labor-market leverage also matters: experts say employers tend to be more generous when hiring is tight, but cut benefits when bargaining power shifts back to companies.
The pullbacks highlight a broader US policy gap, with paid leave, pensions and healthcare tied heavily to employers rather than federal guarantees.

As companies reduce benefits, are taxpayers now subsidizing corporate labor costs through the public safety net?

Is corporate investment in AI coming at the direct expense of employee financial security and well-being?

When company profits rise but employee benefits fall, what is the new definition of corporate loyalty?