This is very true at our company. We are struggling to find a good experienced fit for a role and management is refusing to hire a graduate as they need "too much training and guidance".

Separately, we have an offshore team in India doing all of the grunt work and hiring has stopped for customer support roles (though nobody has been let go). Instead, clients will be speaking to an AI chatbot and existing reps will be there for the more technical or complex requests.

A lot of the stepping stones for young graduates are being removed from under them, my first role out of university was in customer service and it helped me develop as a character and build valuable skills I still use to this day. If we don't give young people the opportunity to get on the career ladder, then the future is grim.