Pros
Yes, retrenchment of staff happens often, like previous review said. Retrenchment will not happen at the management or lowest level, always at the executive level. But CEO will not replace the employee, so the work is offloaded to the teammates. Looks are very important here, as long as you are pretty you will not be fired even if you dont do your work properly.
Cons
CEO has no respect for subordinates; will shout at the employee in front of everyone. it is embarrassing for the employee. company always hire managers also, but will restrict hiring of employees at staff level. end up a lot of managers to do lip service but nobody to do hands on. managers hired are not professional as well; the executives are more knowledgable than the managers but the managers get all the credits when things go well.