Some companies do, some don't. Glad you were in a camp that does. I've known people who were at companies which didn't value that knowledge and would just cut cut cut.
I worked for one, but rather than constantly cutting, they have high turnover and rely on golden handcuffs to keep people -- that they treat like slaves. Their average turnover was 18 months, though in the seniors it was more like a year (long enough to not have to pay back the signing bonus and relocation if applicable).
And the management didn't seem to care; they would just hire more interns... who they treated better than the seniors anyway.
And honestly, the work sucked. It was almost entirely a crapware maintenance job, no engineering, and a staunch resistance to changing anything at all, even the clumsy, buggy, and inefficient Perl-based "solution" that the company relied on for around 70% of its catalog data.
