When you have a voluntary mass exodus, it's because the work conditions suck. I'd imagine they (like so many other companies) cut with the recession, and worked their people like slaves with no raises to make up for the lower headcount. Now they're reaping the rewards of that behaviour as their experienced people leave in droves, and (stupidly) trying to crack down to return to 2009 levels of individual productivity...without the experienced people that made that possible! Utterly typical. This is why hiring usually spikes once recessions end.
Start looking for a new job. What's the worst case scenario? The status quo?