Yup. My last job was at a large corp and one of my previous managers was in his late 50's, having been there since he graduated college. He was a bit of an exception, but we had many people in their 60's & 70's who had been there for decades.
Both major organizations I've worked in have had ridiculously low turn over and everyone I talked to in both had the assumptions of everyone being lifers. I only left the first because I was tired of doing maintenance on old technology and wanted to experience new dev.