I would instantly leave such company only because top level execs are thinking and wasting their time discussing such topics in 2017. Corporations will die. Life is too short, don't waste it on companies "treating their employees" like a kids. There are still many today, the fact is engineer has a real power to negotiate, to leave, to find another job - companies don't have much choices. They need you, not you need them.
However, if you are at the beginning of your career, you don't have that power but even in that case I believe it is possible to find a better team to work with in any region.
Small end note: productivity is important no matter where you work. Analyze how much time you spend on streaming sites, social networks and learn to control your time and work better.