Management are disconnected between themselves. There is no real communication from the management to address rumors, or reassuring the ones left behind. Management no longer care about the loyalty aspect of the employees.
Countless layoff waves including major ones and soft ones across all departments resulting in stressed and overworked employees. Even managers/directors are unsure if they will survive the next wave of layoff.
The employees left behind are scrambling to get new jobs or work in fear that they will be next.
Also, people won't come to work just because of free coffee and Thursday breakfast.