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Why have white collared workers lost bargaining power?

I've always worked professional jobs at fortune 500 companies. 8 years ago, I got consistent 2-4% raises and bonuses between 8 and 18k, benefits were decent. Med covered preventative care, many scripts. They paid for travel with decent accomodations, decent equipment, I got a company credit card, phone. If shit went south with my laptop, there was onsite IT support to help. At the 2 companies I've worked at since, raises are shit (0-2%), no bonuses or RSUs, they fight even essential travel (I need VP approval for $400 in mileage to a client), i basically have to buy my own equipment besides a barebones laptop, benefits suck, we need to make crazy business cases to get promotions, which are essentially impossible. At places I've applied, they dont reimburse travel and do remote interviews for onsite positions. Relocation isn't 100%. Besides some tech jobs (which are no more), benefits are…


I've always worked professional jobs at fortune 500 companies. 8 years ago, I got consistent 2-4% raises and bonuses between 8 and 18k, benefits were decent. Med covered preventative care, many scripts. They paid for travel with decent accomodations, decent equipment, I got a company credit card, phone. If shit went south with my laptop, there was onsite IT support to help.
At the 2 companies I've worked at since, raises are shit (0-2%), no bonuses or RSUs, they fight even essential travel (I need VP approval for $400 in mileage to a client), i basically have to buy my own equipment besides a barebones laptop, benefits suck, we need to make crazy business cases to get promotions, which are essentially impossible. At places I've applied, they dont reimburse travel and do remote interviews for onsite positions. Relocation isn't 100%. Besides some tech jobs (which are no more), benefits are garbage.
Why have white collared workers somehow lost bargaining power?

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