A long history of good things adds up in one's mind. If your employer has benefited you, it's hard to maintain a mentality of pure rational self-interest.
Yep. Some employers are really good to their employees, even if they do layoffs and downsizing. One place I worked had an employee with terminal cancer, in the later stage he told them he'd never be able to come back to work but they kept him on the payroll anyway so he didn't lose his health insurance, right up until the day he died. Doesn't mean they didn't also close unprofitable locations and lay employees off sometimes too.
Businesses are cold-hearted machines, but they are staffed by humans. And sometimes those humans make good decisions.