How is this news? What company offers work and life balance unless they are small, have a huge profit margin or VC funded? Pretty much, none.
How are promotions done? Based on available positions, through vigorous evaluations of talent, No shiiiit.... do you really want to promote someone who is not qualified or better candidate available?
What they received was apparently, not a crappy boss, job security, and a well known company to work for for the last 10+ years, which is usually more than 99% of people can say in the USA.