This is what is written on the patch notes on the official website:
Raid Boss Changes
Teredor
The Teredor raid can now be accessed by a minimum of 5 players (instead of 7), and the raid instances maximum time is increased to 60 minutes (from 45 minutes). Teredor now spawns fewer Elite Millipedes than before, and all subordinate monsters no longer provide XP nor SP. Teredor himself, however, now provides more XP, SP and rewards. The instance dungeon resets when Teredor dies.