Maybe I've been lucky, but I've been in big (10's of 1000's of employees) firms and small (10's of employees) firms, since the mid 1980's, and have never been measured on LsOC. But I play along with the joke, because it's an easy strawman.
That said, there are other equally bad metrics that are in current use.
That said, there are other equally bad metrics that are in current use.