Microsoft used stack ranking for some time and from what I've read it caused a lot of problems and was considered to be negative overall. It led to a cutthroat environment where employees were competing with each other (and not focusing on doing their best work) so that they would get a good ranking [1]. According to reviews on Glassdoor, it's still used unofficially for their 6-month reviews [2]. Amazon also used it for a time [3] and has since abandoned it.
1: https://www.vanityfair.com/news/business/2012/08/microsoft-l... 2: https://www.glassdoor.com/Reviews/Microsoft-stack-ranking-Re... 3: http://www.nytimes.com/2015/08/16/technology/inside-amazon-w...