I worked at a company that was purchased and the new management switched us to this type of system. During my time previous the buyout I had practically doubled my salary through reviews. With the new system I was one of two who got the highest rating the system offered. My raise was less than the previous cost-of-living increase I received.

Then they insisted I move to keep my job. Since the move meant going to a better job market I went along with it and then quit after a decent amount of time.