There are many reasons why this is bad. First, the ability to type in a decent speed may be necessary to program fast (not necessarily to program well, mind you), at least in non-static type languages where IDE can't do autocomplete well. That means languages Java, VB, .NET (with compile time type checking) with extensive autocomplete support, doesn't need much typing speed because the autocomplete will do most of the fast typing for you. Even then, you don't usually bottleneck your productivity at your typing speed unless you are writing a lot of linear non repeating code. But in any environment where such code is necessary, typing speed will be the least of your concern. What's important is the ability to type without conscious effort so that your programming effort can be concentrated on actual programming. Assumes existing programmers in that company are competent: If typing speed limits the productivity of programmers, any framework the existing programmer...
There is a science joke, which has been polished over time:
* A specialist knows more and more about less and less until eventually he knows everything about nothing.
* A generalist knows less and less about more and more until eventually he knows nothing about everything.
I consider myself a generalist thus I declared that I know nothing about everything.