The company I work for, a very very very large IT/insurance/etc company informed all 2000+ of its employees today that this year there will be NO merit increases.
Nothing, no bonuses, no raises nada
This following an exclaimation about how sucessfully we were last year financially and aquisitions etc
By freezing all wages, they expect to save 50million dollars
This following the June 2007 aquisition of eFunds in an all-cash $1.8BILLION deal