While your experience sounds painful it also sounds like something that would have happened in the 90s. I don't think most tier 1 organizations still think in that way.
Less than a decade ago I worked at a company that was acquired by a private equity group. What jscode said matches my experience. For a while I also tracked (on Glassdoor and some other sites) companies that were purchased by that firm, and seems like employees at different companies had the same experience. EBITA was king, nothing else matters.
Stack ranking is still used widely throughout Fortune 500 companies, which is one of the most culture destroying management practices known to man.