To start with, there are different definitions of fairness. A small example: everybody gets equal, everybody gets what they deserve, everybody gets what they need. An so on.
It's very hard to answer this as my definition of "fair" is probably different to yours. However, we live in a free world. The company's rules are clear and nobody is forced to work there. Seems fair in some sense to me.
I personally wouldn't be happy with this arrangement as I would probably seek a little bit more appreciation of my experience and position.
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You asked a very philosophical question.
To start with, there are different definitions of fairness. A small example: everybody gets equal, everybody gets what they deserve, everybody gets what they need. An so on.
It's very hard to answer this as my definition of "fair" is probably different to yours. However, we live in a free world. The company's rules are clear and nobody is forced to work there. Seems fair in some sense to me.
I personally wouldn't be happy with this arrangement as I would probably seek a little bit more appreciation of my experience and position.