You got it kind of backwards.

He was already fired by the time the "East side of Internet" reacted.

As for this being brought up again and again: it is a very good example and I can't recall the person in question ever coming up with a real apology.

Companies are inherently shortsighted and beholden to their customers and shareholders (in public companies). Prolonged social attacks against a company may drive customers away or drop stock value, both of which negatively impact the company (and more importantly management) far more than letting one employee go. This probably significantly harms employee morale, but I doubt that's their primary concern.