As a German, I would say yes. Basically all „established“ large cooperations (e. g. Siemens, Bosch, Volkswagen etc.) and even smaller corps work like this. A result of of strong labour laws, laziness and unions in my opinion. Salary at these companies is usually also good for that e. g. starting with 60k as a Junior SWE. Germans don‘t like change, are risk averse, especially the older generation, so they stay in jobs for a long time. If you want a more dynamic environment you need to look for startups or scaleups of the coorps. But even there things tend to be on the slower side, pay is often less and there is less job security.