First off, congrats, second sorry youre sc--wed.
This is the last step to improve the moral before the beating starts again with a major LR that will be hitting the company next fy year. Lately there has been lots of cx departures and it started getting the execs nervous..they wanna see who is still onboard or who has their eyes out the door… anyone who is business as usual or not living up to their new grade performance will get LRd not at once but through out the year! The plan is to start shifting less senior positiins overseas or be replaced by AI.. This entire grade bump is a scam.