It is very possible they are being told by the owners to cut costs. I work in tech acquisitions, and there is a breed of private equity fund who believe 100% in the business model of "make sure everything can be done by a junior and then hire lots of commodity coders - and get rid of any seniors who can represent key person risk." The vast majority of software companies are in ownership/investment positions where the investors call these shots, whether you hear about it or not. Unfortunately, they are right, that is one model that can work. However, when I have assessed companies like that, (even wildly successful $1B+ ones) they seem like awful, awful places to work for anyone who actually cares about the craft. The ONLY good role in those companies is OWNER. Conversely, there are others who believe that small teams of experts can be a very cost effective way to make money.

You need to get out of Dodge and find one of the second. Believe me, they are out there and fighting for senior talent, I talk to them all the time about it.