I used to work for a company who have been pulling this stunt for years. The rate of pay has never increased, however the workload and accountabilities would have least doubled. Might have to have a chat with the ombudsman, not because I want back pay, just to try and keep them honest.
Yep, do it. If half the old employees do it then half of these shams would be forced to close. Thus making it easier for for companies that do do the right thing to survive.
Beat ups. You probably worked and were treated like a dog. But every dog has its day.