Companies treat us as replaceable widgets. If widget A is broken just throw it away and use widget B. No reason to be loyal in that environment.
In an era of trillon-dollar megacorps and multi-billionaire CEOs, Marx was ahead of his time:
> He becomes an appendage of the machine, and it is only the most simple, most monotonous, and most easily acquired knack, that is required of him. [...] As privates of the industrial army they are placed under the command of a perfect hierarchy of officers and sergeants. Not only are they slaves of the bourgeois class, and of the bourgeois State; they are daily and hourly enslaved by the machine, by the overlooker, and, above all, by the individual bourgeois manufacturer himself
It really messed up my friend, he was really close to a comfortable retirement, but had to borrow against his 401k to make it through until he could get another job. He was the safety officer for the entire factory, 15+ years of experience doing that. Now he's too close to retirement age and no one will hire him, even though he's personally a long way from retirement.
So now he's working a physically demanding job on the line making cars. All that experience and skills with safety? Junk.
No company has loyalty to their employees. It's all about the next quarter.
> It's all about the next quarter.
Not sure that follows from your friend's story. In that particular case, it seems to have been about bad management, unless having only college-degreed folks on the floor improved short term financials.
Definitely an example of a short sighted decision, though.