Well, that's true in the US, but I don't know if that's necessarily true for any job.
For example in Japan, companies actually go out of their way to do things for you outside of your work, like find you a significant other.
If a company actually did things for me to try to keep me happy and treated me well, I think I would feel some sense of loyalty too. Unfortunately it seems hard to find these kinds of companies nowadays.
There are a lot of midsize german companies where loyalty is actually a value that is ingrained in the company. They're often family/privately owned and while they will let employees go if there's no other way, they'll try and keep them as long as possible. Often the owner feels personally responsible for doing so.
This behavior also makes sense from an economic perspective: It's much harder to find new personal and train them to work with your team and technology than bridging the gap for a while and taking profit cuts, especially for smaller companies with less marketing/hiring power.
There are actually state-controlled instruments that support this: Kurzarbeit (where everybody gets to work less and the state pays a subsidy) and similar support.
Smaller companies are a bit different than big corporations, too, though. Usually, it's just one (or a small group) of individuals running the company, so it's not some "faceless entity" with no morals and only working towards the goal of profit. Also, employees and employer generally know each other personally and have some kind of relationship that allows for at least some loyalty from both sides.
Big companies (public or private) have evolved beyond that and are more of a system than a person.
For example in Japan, companies actually go out of their way to do things for you outside of your work, like find you a significant other.
If a company actually did things for me to try to keep me happy and treated me well, I think I would feel some sense of loyalty too. Unfortunately it seems hard to find these kinds of companies nowadays.