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This is partially true, but things are actually worse than they used to be in some ways and better in others. I think that, more than anything, the conditions have accelerated a bit more.
I was born in 1976. I remember managers being completely toxic assholes--that was just how it was. But, when I was a kid, there were still pensions--you worked 40 years for a company and they took care of you. I think that both of these things are gone--managers can't really get away with being as cruel as they used to, though I know that's out there. Also employees don't expect a graceful exit at the end of their career.
Millennials and gen z know things are worse, and that's why we don't feel like it's worth it to give everything to a company. We don't have to pretend because we know the employers know things are bad.
I wonder if you meant to say "millenials and gen z"?
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