TTEC, a global customer experience technology company, has put a nine-month pause on its 3% 401(k) match for US staff. In an April 30 memo, Laura Butler, TTEC's chief people officer, said it would "protect the long-term strength" of the business and give them greater financial flexibility to keep investing in "the tools, training, and capabilities that will define our future," Business Insider reported (1).
The pause will be reviewed early 2027 and reinstated only if business performance supports it, Butler said further.
TTEC employs approximately 16,000 U.S. employees and brought in $2.137 billion (4) in revenue in 2025, which was down 3.2% compared to the year prior. The company's cashflow in 2025 was a positive $121.1 million (5) versus a negative $58.8 million in 2024.
Agility at what cost
Chris Brown, the CEO of TTEC Digital, stated the broader strategy is to help financially stabilize for future growth and investment in "tools, training, capabilities, and frankly, people." However, the irony isn't lost on employees that retirement savings are slashed so that the company can make technology investments.
TTEC employees told Business Insider (2) they were met with "confusion, then anger" and that the move is "a head scratcher."
Brown pointed the finger at other professional services firms, stating "this is something that others are doing" (3) too. Big tech is also reconsidering what add-ons they offer their people. According to The New York Times (6), Deloitte is pulling back paid leave for people in administrative roles (from 16 to eight weeks for birth mothers), reducing vacation time and eliminating financial support for IVF, adoption and surrogacy — just as President Trump proposed a new rule (8) to allow employers to provide standalone coverage (9) for fertility benefits.
Zoom cut parental leave from 22 weeks to 18 weeks for birth mothers and non-birthing parents from 16 weeks to 10 weeks. Zoom has stated more corporate speak that it's due to the "long term health and sustainability" and Deloitte said it will "better align with the marketplace," the Times reported (7).
The "marketplace" is a patchwork of private policies, many of which fall short in lieu of mandated federal coverage. Resigning these benefits could hit working mothers (10) the hardest, as paid leave and remote work are critical for balancing family and career.
According to the Bureau of Labor Statistics (11), only 27% of private industry workers had access to paid leave in 2023.
