Wiggy, the whole industry is to blame (and I'm part of it). We are all businesses and, in the UK, the law is that company directors should work in the interests of shareholders having regard for, amongst other things, the interest of employees (Section 172 of the Companies Act 2006).
If a company can increase profit, or at least minimise loss, it is obliged to follow that route providing it retains 'regard' for its employees. Once the P2F door opened there was no turning back. The companies are behaving like most other businesses would. Its nuts but it is reality.