I wouldn't mind at all this being applied to me. Multi-month severance? Brutal honesty? Not wasting two months in a demoralizing process? It's far better for my liking than the drawn-out "piecemeal firing".
The one caveat I want to add is that this should only be applied to the senior positions, not to junior ones. A junior, by definition, is relying on the management to guide his efforts, he is not expected to be managing himself, therefore he should get a fair warning and offered a process to improve. A senior, on the other hand, is expected to manage himself, including soliciting and addressing feedback on his own performance and attitude. Therefore a firing should not be a surprise to him, and if it is, that means the person wasn't pulling his "senior" weight to start with.
The one caveat I want to add is that this should only be applied to the senior positions, not to junior ones. A junior, by definition, is relying on the management to guide his efforts, he is not expected to be managing himself, therefore he should get a fair warning and offered a process to improve. A senior, on the other hand, is expected to manage himself, including soliciting and addressing feedback on his own performance and attitude. Therefore a firing should not be a surprise to him, and if it is, that means the person wasn't pulling his "senior" weight to start with.