Started out great then fizzled to extremely disappointing - Director of Engineering Rolls-Royce Employee Review

Have decided to "global grade" the entire company which has resulted in significant benefit reductions for mid level senior engineers. Usually associated with multiple level demotions, loss of merit increases, and loss of executive bonus. Also, relocation of company to smaller facility downtown. Senior engineers now being given 3'X4 work area instead of previous office work environment. Do I need to explain what "hot-desking" is?