Exactly, it's one thing to make people interview if the new roles are going to be totally different, or if this is an opportunity to re-match employees from cut

Exactly, it's one thing to make people interview if the new roles are going to be totally different, or if this is an opportunity to re-match employees from cut positions to other roles etc, but once they've updated their CVs and had interview practice, why would they stop at interviewing for the current employer only? All the capable people will use the opportunity to look around at other opportunities, especially as the whole process is going to be pretty damaging to employee trust.