I agree with you. They just replaced a contract providing facility maintenance where I work. The new contractor offered existing workers half the pay they’d been making. Several retired or left.
That’s what happened to me at the hospital I worked at as a medical transcriptionist. Dictaphone leased us the dictation system for 3 years, which was a voice recognition system. When the lease was up, Dictaphone “kindly” offered to take over the transcription services for the hospital. They wanted to hire the MTs but instead of being paid hourly, we would be paid strictly on production. My income would have gone from $20+ per hour to $10-12, my health insurance would have cost double with a higher deductible, and my vacation time would be 1 week instead of 4. Most of us refused their offer.