Personal experience: My company had record profits due to cost cutting in 2020, yet my department’s budget was frozen at the beginning of the pandemic and remains frozen. Two team members quit briefly before the pandemic and were never backfilled due to the budget freeze, no promotions or raises have been given (or will be given until at least the upcoming summer or fall, I’m told - though this flies in the face of what I’m seeing in other departments), and the workload for my team has increased drastically. I’m a middle manager with no real control over promotions/raises/etc. and it has been sad to see previously chipper and excited employees descend into obvious misery.