To the level that the corporation has control over your life, yeah. What do you think banana republics are? The more the company can control your life, the more its undemocratic nature becomes apparent. Working for a small company in a competitive market might not look like a company town, but it has the same fundamental structure as one. The main difference is that the small company has to offer a good deal to their employees compared to competitors. If the company is the only hirer in town, then they’ll suddenly not have as much motivation to treat you well. If they control the housing, means of travel, and cops as well, you’re basically enslaved.