Thank you to the moderator for quelling the inevitable hysterics of outrage. I will ignore the less couth as it merely indicates the measure of the man.
Choose to believe what you will. The facts however are the facts, as much as anyone may not like it. The overall adjustment to the yearly salary by virtue of increments and bonus is OK in anyone's book.
As most seem to forget, a company has one objective: to be profitable. That will involve adjusting remuneration to a level that is a minimum cost without large scale migration of skilled workers.
This objective has been achieved. It will remain stable as the successful recruitment of required numbers indicates.
Some may move on as is their right. Most will not. If the balance changes the package will be adjusted. It is that simple. Its business.
Can you blame any manager for working to his directive any more than a captain can be blamed for ensuring saftety?