I wouldn’t say ANY company necessarily. A lot of companies even in IT are body farms and low wage, expendable (but still necessary) labor is their lifeblood where they trade off quality for more volume. Employee turnover doesn’t matter much besides in the highest ranks in that case either. A “bad” hire in such companies is one that causes such irreparable harm that it costs the company more in reputation / brand than the paid out wages (this is the case with most large scale employers in the US like retail, sales, etc).
FAANGS may have the funds together to hire out probably the rest of the entire software developer market but it doesn’t do them as much good to have laggards that can’t pass a FizzBuzz test. Sure works for a lot of defense contractors’ business models though, especially if the candidates are cleared.
You don't have to be a body farm to justify someone considered a "false positive" at a large employer. Most companies outside of the top employers have a hard time staffing up. They might just want someone to fix their bugs, not someone aspiring to invent the next Kubernetes.
Unless you have clearly defined separate roles, titles, career ladders, etc. for the "bug fixers", this isn't a recipe for success. You would end up with an underclass of employees that are unhappy that they don't have the same career opportunities as others in their role, and a bunch of unhappy managers who are given the difficult task of enforcing this division.
If you just need someone for narrowly-scoped tasks like fixing specific bugs, it might be better to hire a contractor, so the role expectations can be well-defined and agreed to up front.
Every company I’ve seen that needed people dedicated just to fix bugs was in a downward spiral with maintenance mode software. Those organizations outside really slow moving but well financed bureaucracies are disappearing rapidly as investors pull money by divesting or selling to larger companies that wind up casting off the unprofitable / non-growing lines of businesses they acquired.
It’s pretty evil IMO to hire people as FTEs into such organizations when you are probably better off with consultants that are at least used to short term gigs.
Most of the services organizations that exist within enterprise tech companies scales very poorly and is supported by a high-margin software product or two. But the usually cited companies are Infosys, Capgemini, Wipro, Accenture. To make their businesses more sustainable / profitable they overwhelmingly favor labor cost arbitration and oftentimes aim at non-tech companies that still don't consider IT or software strategic to their business.
Then there's the "unintentional" body farms that organize due to structural reasons of massive funding combined with labor structure dictated to support a massive enterprise. Within defense, almost all the major defense contractors like Northrop, Lockheed, General Dynamics, and maybe Palantir these days (the bar for hiring is higher overall there, but not quite the full story) fight for huge, bloated Pentagon budgets that resembles VC funding except with military officers as partners and minimum headcounts are usually specified in contract vehicles. You'll oftentimes see at least n PhDs on staff, m veterans, p program managers, etc. as competitive factors for getting a contract ahead of other companies because with too small of a company it's deemed a risk to the government (people do take vacation, get into accidents, etc.). While there's been some efforts to make the RFP process better aligned towards outcomes, everything I've heard since I left the community has not been encouraging.
FAANGS may have the funds together to hire out probably the rest of the entire software developer market but it doesn’t do them as much good to have laggards that can’t pass a FizzBuzz test. Sure works for a lot of defense contractors’ business models though, especially if the candidates are cleared.