>Some 282,000 staff were employed at IBM at the end of December 2023, and their average total compensation was $65,463, 6.89 percent higher than at the end of 2022.

Title is wrong. Average employee compensation is 6.89% higher than last year but that doesn't mean employees got 6.89% raises on average. E.g. could be that the thousands of employees they laid off had lower average salaries than remaining ones. According to r/ibm typical raises are closer to 1-4%