CEO Says There Will Be No Raises Because He Spent All the Money on AI (finance.yahoo.com) (opens in new tab)

Score: 474 | Reading time: 5 min | Summary: Tech CEOs are increasingly using AI as a justification for layoffs, with companies like Teradata reallocating budgets away from employee raises to fund AI investments. This strategy has drawn criticism, as many AI initiatives are failing to deliver measurable profits, leading to questions about the long-term viability of sidelining human labor. Experts suggest that such decisions may signal to investors a commitment to tech innovation, but they simu...