Not correct of course. The contract was broken by companies. Long ago, if a company succeeded, so did the employees. We have had the greatest profits in history for the last couple of decades and wages were stagnant. A stagnant wage is a cut due to inflation. The power and wages of workers had dropped.
Companies who were making a lot of profits still moved to Mexico and China. The left the workers in the lurch. They moved for a workforce that was cheaper and had no protections. They also moved to get away from environmental and safety regulation.
The American workers did nothing wrong.
Companies forced workers to accept clawbacks and lose benefits. They passed healthcare costs to employees, who were already making less money. And they would lay them off or fire them to save a dime.
The bargain between workers and management was broken by management. The workers just keep showing up and doing the job, but for less money and less security.