New C-suite are focused on extracting as much as possible from workers while giving as little as possible in return, using deceptive methods to soften the response if it suits them. They have also brought in a ton of people who professionally ride their coattails at the VP level and above, while instituting hiring freezes on positions below.
Local management is either unable or unwilling to stand up for employees. Lots of cuts that made the day to day worse even before the pandemic. Now we get to hear about how well the company is doing while they continue cutting.