The “better” jobs tend to be open to those with higher GPAs. There are plenty of companies that require engineers, though, but if you have a low GPA you are more likely to end up with an unsexy job.
Of course, after that first job, most future jobs will be based on previous job experience, not your GPA. If you have a lower GPA and start at Unsexy, Inc and do a great job there, maybe you can later move up to that coveted job at The Sexy Corporation whose GPA cutoff for new hires would previously have excluded you.
The bottom line is that having a good GPA makes it more likely that your first job will be a “good” one.
I wholeheartedly disagree with this statement, as do most companies’ hiring practices. With little to no prior work experience in the field, the GPA is the only (if imperfect) measure of competence that can be used to compare every student. Students with higher GPAs tend to grasp the material better and tend to be harder workers, which most companies would obviously tend to prefer.
On the other hand, someone who adheres to “Cs get degrees” and has a 2.0 when they graduate indicates they passed their courses on average with some minimally acceptable level of competence. Most companies, given the choice, would much rather have someone who is likely to excel. It’s better for their bottom line.