Should I ask for greater compensation for increased workload due to team members leaving?

I work as a level 4 software engineer apprentice in a small team for a large company. I am currently on a degree apprentice course which should last roughly 2 and a half more years.

I have been with the company for 5 years and perform a full role the same as the other team members. I am treated like and have the same expectationsworkload as each of them.

We used to have 8 members of the team, recently two of the team members have left and it is openly known throughout the team that another will shortly also be leaving. Additionally, one of the other team members is still in training and does not contribute at all to the workload, there are no signs he will be ready shortly as he is making no progress despite being in the role 4 years.

When we had 8 members, the workload was already high in both support and development activities. Once the other team member leaves, we will be be expected to continue the same performance and workload as the team of 8 did with only 4 team members (3 + 1 trainee realistically).

There are currently no plans to replace the leaving team members as upper management are try to meet their profit quota’s.

Given the above situation, I feel that this is a change in my role which I should be compensated for. I will be expected to take on greater responsibility and workload for the same pay. Is it reasonable to ask for greater compensation? Or is this likely to fail due to my status as an apprentice?

I appreciate any feedback or experience on this.