What to do when workers become apathetic

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I have worked at the same place for the past two years. However, I feel that in the last 6 months or so, everyone's morale has decreased, and people no longer feel passionate about their work. As a result, most people have either quit or are not working as hard, so a smaller profit is made, and therefore, there are fewer resources available to the employees. Have you ever experienced a similar situation? If so, how was it resolved?