It’s sadly an increasingly common thing as well where people don’t have an incentive to work as much as they have a desire to not. There’s a lot of societal issues at play there for sure.
Part of the issue, I think, is the lack of perceived purpose into doing what one is expected to do and paid for. If the top management makes you constantly feel replaceable and your worth mattering little, then there's no sense of job security or reason for being there beyond the paycheck. People are more incentivized to leave work for better pay in this type of environment unlike having a work environment where you do something that matters to others and get appreciated, that shit has no price tag but it matters more.