As others have mentioned, the relationship between employee and employer seems to be more openly regarded as a business arrangement (which it always was) and not as much of a place-to-be-loyal-to than I’ve historically seen. Getting let go can cause lasting problems, specially for a person’s self-esteem or confidence.
With so many being let go lately I think the sentiment is also changing a bit. You’re hired to make money for the employer, or solve problems to reduce costs. But now, even if you meet all of your requirements you can still be let go because the company’s shareholders aren’t seeing the growth they want despite the company being wildly profitable anyway.
So what’s the point in giving your free time (after work hours) to a place, or sacrificing real life things, when the company will just drop you whenever for whatever anyway? The illusion of loyalty is breaking and I think that’s a good thing.
Loyalty to a company, IMO, largely results in holding your career back if you’re shirking better things for the “good enough” thing you have now because you’re loyal. But the company isn’t loyal to you, and specially not if they’re under some sort of pressure to cut costs. Not saying don’t work to your fullest or apply yourself, or never go beyond, because those things are kind of part of work, but the undying loyalty is wilting.
Add to that the difficulty of finding jobs because companies made stupid short-term decisions (probably knowing they were gonna need to drop people later) in the name of quick money during COVID, and you’re left feeling pretty dejected about the whole thing.
Work, get paid, look after you. Company will look after itself. If they don’t, move on and make sure you’re okay. The company’s health is not your problem (assuming you’re doing your work) unless you’re one of the folk responsible for its life.