One can not be loyal to an entity that has no conception of what it means. Language like this is why people are constantly confused about where their loyalties should actually be. One can be loyal to people, one can not be loyal to a workplace.
Tyrannical or misguided management practices can temporarily increase fear, which masquerades as loyalty. The Soviet Union tried this. However, when the system finally truly needs support, it falls. Unheeded and unloved.