You must not be familiar with the management style of Jack Welch.
Neutron Jack.
Thankfully my time at GE wasn't very long. They were still dumping the bottom 10% each year though they ended that practice not long after I left. It was a very destructive policy. I can work to clear out deadwood for the first few years. But after that you start having to cut people that aren't THAT bad. And then decent employees refuse to do anything that might help someone else avoid the cut, because otherwise they're more likely to be cut themselves.