That's also a really good point. I knew someone in that position and he didn't last much longer before bailing on the company. He had no problem getting new offers.

Companies just see an easy line item savings without thinking of the impact on the employees they desperately need to hold onto. On top of any potential insult to the employees, the companies that do this are giving off a terrible impression. "OMG. They can't even afford free soda anymore. This ship is definitely sinking."