work evaluation having to rate co-wokers ?

[Blarg]

This sounds like a race to the bottom. Be sure to degrade others before they degrade you, and help the company document reasons for firing the workers someone in management doesn't like, or with higher than average wages. I don't like this a bit. You're being asked to do management's dirty work for them. They already know who they're going to give raises or promotions or bonuses, and are very unlikely to want any of your input on that. However, they can get mileage out of competitive backstabbing and rumor mongering.