The last quarter of the FY is manipulated low on expenses to make it look good. The VPs take thier millions. The other managers get their bonuses.
On town halls they dangle the carrot, The employees get told "there may raises depending on finances". The new quarter is then front loaded with all the expenses for the year so its bad. They make everyone do appraisals to keep them hoping.
CEO announces a bad quarter to Wall Street but says all is good with $800 fcf profit made, debt is low, we're chopping more, we're doing buybacks to keep our pay high.
Employees keep asking about pay, they drag it for months then say quarter was bad, "can't afford it at the moment but we will pay if anything changes". Full well knowing they won't pay its just another carrot dangle.
Silence and Stretch it out until August, employees work it out the company has been bullsh-tting all along and won't pay.
Repeat the following year every year, we can't afford your 10% rise but we can take from your pay, to allow us our millions.
Go and tell your families to suffer.