The company might change, but the reputation is kept alive.
In general, all companies will vary. Some will be more lenient; some will be more strict. Some were strict first semester and suddenly lenient second semester, and some were lenient first semester and suddenly strict second semester due to a new CoC.
Even within a company, one class might do things drastically different than another class. For example, policies and procedures in my company have already started to change because '14 and '15 have begun to pick up the reins. Next year, '15 might decide to be much harder on '17 than '14 was on '16. They might decide to be nicer. Who knows.
Being a plebe sucks in general, no matter which company you're from. There's no company that will simply let plebes slack up after Plebe Summer. There's no company that absolutely murders their plebes either.