“it isn’t about pay.”
Correct. It’s about stock price and dividends.
Shareholders don’t even see these benefits. They are absconded by the upper ranks in the form of bonus checks (for cost savings) and higher salaries.
I don’t begrudge them making what they can, but they are telling their staff that they are not qualified, not worth the money, et al, and then chain them to the job even after termination.