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yes, going forward everyone will be covered under January cycle.
for july 2024 cycle folks, they have come up with a plan to give hikes using y= a+ bx
wherein a is some fixed amount given for the last year, and bx will be given in jan 25 (based on july 23-july24 + july24-jan25 performance)
It is not reducing appraisals from 2 to 1.. earlier appraisals happened once according to date of joining and feedback happened twice every year.. now both appraisals and feedback will happen once every year.. only in Jan