I work for a healthcare company in India where the business was sold and new entity was formed Altera health. Previous company was providing quarterly bonus since Dec 2020. 2 PTO per month, 6 days additional mandatory company wide leave. This new company stopped everything and even reduced PTO to 1.5 per month.
On top of cherry they lost a big client and now they freeze all appraisals.
President comes on a call with all employees and when someone asked what are they trying to prove as company will have higher attrition rate. He said company is in loss for last few quarters and it is part of the company so we are not focused on the attrition right now.
Basically he said you can quit when you want and they expect loyalty.