It used to be if you worked hard you gradually progressed up the technical ladder to positions of more responsibility and visibility. Now all those positions are being given to less than 10 year employees and the employees with more than 20-30 years are left begging for scraps.
I understand they want to hand out carrots to keep younger employees around but it is very demotivating to older employees who presumably have valuable experience.
And besides what is there for younger employees to look forward to? They will get the same treatment when they "age out"