Just as with the Seattle wage hikes (not Gravity), a bunch of the newly-enriched employees are also going to ask for hourly cuts, so they don’t endanger their bennies.
Additionally, I find it hard to believe senior mgt didn’t expect this. More likely, they want to temper the disquiet just enough to keep the more effective “senior” employees, while allowing the deadwood and serial whiners to bail, thus opening up a bunch of slots that they can then fill with proportionally-lower-paid replacements, thus lowering the overall cost burden of salaries while “promoting” employees and “increasing” their income.
and the ones who work hard are taking home less, because the free meals, free parking and tips are getting cut off.