In an ideal world, products would be made to last as long as possible and companies would strive to keep their workers content because such workers are more productive and you want them to stay because training new people to do jobs is disruptive and inefficient. But with unbridled capitalism that demands rising revenues and cutting costs, such a model no longer works.
First came planned obsolescence. Instead of making things to last as long as possible, some items are now built to last for just a limited time so that people have to periodically go out and buy a new item. This is not only expensive, it is bad for the environment, using more raw materials than necessary and filling up landfills.
Then came the attack on workers. Companies realized that long time workers cost more because their wages had risen over time. It became to be seen that profitability could be increased by forcing out older workers and replacing them with entry level people. The temporary loss in efficiency and continuity could be compensated for in lower wage costs. It used to be that the older workers who were forced out were at the higher rungs of the work force, those earning much more than entry level workers, while the lower level workers were spared.