Recently confusing - SW-Engineer Sift Employee Review

I've been feeling discouraged lately about the direction the company is taking. We used to have a great company culture, but recently it has become more stressful and toxic, leading to many people leaving. Upper management keeps attributing the problems to the bad economy, but I believe the issues run much deeper. The company I knew a few years ago is no longer the same, and I’m starting to doubt whether I still enjoy working here. There hasn’t been much career development lately, and the projects and promotion opportunities were significantly better in the past. The recent layoffs have only added to the uncertainty.