I worked for a large US bank that has a 10% biannual attrition target at all levels across the company. Twice a year they PIP 10-15% of staff, most of whom take a substantial buyout. Institutional knowledge is constantly being lost and experienced staff are being replaced with fresh cohorts of new grads, who then get replaced themselves right as they start becoming useful.

I knew multiple people there who made more in signing bonus, pay during training, and severance than they made for work actually performed.

The CEO is convinced that this is the path to "top tech talent."