https://www.frameryacoustics.com
The company is only 12-years old.
It should be no surprise that, for a company still in business after a decade but also not a super old company either - that they have hired way more than let go.
(Seems a bit of confirmation bias combined with survivor bias going on)
That explains a lot. Not only is it not much time for turnover, but it almost certainly means the original management is still running the show. Trusting in a person is easy, but keeping that company trust for year after year is very hard, especially if the company grows. It only takes one asshole manager to break that trust and once broken it takes many many years to rebuild, if ever.
This happened a lot in the US where companies would cultivate loyalty in their employees throughout the 50s and 60s and even into the 70s. Then the old guard retired and new management came in and started abusing the trust in the name of a higher bottom line--doing mass layoffs, cutting pensions, slashing benefits, outsourcing, engaging in huge stock buybacks with the funds instead of investing in R&D, typical 80s and beyond behavior. Then they went all Pikachu face when employee loyalty dried up and their competitiveness faltered and the companies found themselves unable to compete without government assistance.
In the tech industry, the average annual turnover rate is 13.5%. If I'm doing my math right, that amounts to a lifetime turnover of 77% for an average 10 year tech company assuming flat employee count over the time period, or 51% for the same company with linear growth from zero over the time period. Both are well above the 10% this company is claiming.
(The 77% came from 1 - ((1-0.135)*10), and the 51% came from 1.0 - ((1-0.135)*10)0.1 - ((1-0.135)*9)0.1 - ((1-0.135)*8)*0.1 ... to sample even cohorts of 10, 9, 8, etc. years making up equal portions of the population.)