From the pov of european employee, no it's not - it's pro-employee, with employers generally finding it a problem and trying to weasel out.

This is literally the reality behind all those "it's hard to fire people in Europe" - you can terminate the employment, but you still need to pay for the notice period even if you suspend actual work.

Notice period being bidirectional is used to also guarantee that a leaving employee can be depended on to pass necessary training for those who remain. Effectively it forms insurance for both sides.