Lately, many young people don't use keigo with their elders.

Literal

Recently, above-in-status [possessive-の] people [to-に] honorific-language [object-を] not-use young-people [subject-が] many.

目上の人 'people above one in status' is the standard term for social superiors — seniors, bosses, teachers. The sentence observes a generational shift in keigo usage, a perennial topic of social commentary in Japan. Plain-form ending makes it a neutral observation, though the context implies mild disapproval.