Unfortunately, this appears to be the way for businesses to save money. You get more out of your labour even if labour costs stay the same and it doesn't matter if people leave because you hire people at the lower real wages that they offered their former employees.

However, the precise reason seems unclear, maybe it was because of finances or maybe they had so many engineers they thought that they could get away with it without causing too much rest.

Either way I'm not going to deny that this way of doing business is brutal but I'm not sure what the government could do except sifting through every proposed contract change and then blocking them? But this is unrealistic.