The key point is: workers need to organize together for themselves. Nobody else is going to stand up for you, certainly not your boss(es).

You can speak up it meetings with your team but be careful of the tone. You need to come off as overall having the companies back but this one thing you can't support. Or maybe things will change again. There are lots of options.

There have been recessions before. There will be a recovery. Leave when things get better (or you retire) and cite working conditions in the bad times in your exit interview.

unions can work, but they can force you into situation you don't want to be in.