Bulbs,
At several large companies I know, here is how it works. Nobody is chucked out for one bad review.
You get an unsatisfactory annual review from your supervisor. At that point your supervisor or manager must develop a Performance Improvement Plan with specific and measurable goals. In other words, do this and this and if you maintain other performance issues, you will get a satisfactory job rating.
So employee performs and gets satisfactory rating and no problem. Employee does not perform again and gets unsatisfactory rating again and is let go.
General Electric is a different case but that is another long story.
TB