ATS. Legg org. Legg is laying off and hiring at the same time to get out the old salaries
Except the new hires are making exactly what the guys who have worked 20+ years are making and don't have the same knowledge. When they did that last reorg and changed everyone's titles, it re-leveled salaries, and every single person with the same job title (at least in my group) got the same pay (at least for a year) regardless of seniority. Separation only started with the next year's (2024) reviews/increases.