Most workers at large companies are seen as fungible cogs. Even the engineers. What you describe feels, unfortunately, like an antiquated idea from the 1900s.
I think we need more unions, more automation, and more social security. We are racing towards a future where there simply won’t be enough “jobs” for everyone and the companies sure as heck aren’t going to look out. Companies have no soul and the humans that run them have worked hard to insulate themselves from that being responsible for the actions of that lack of soul they instilled.