This happened to me about 4 years ago.
I applied for a Finance position with a cybersecurity company. I was contacted the next day by their talent acquisition rep and a phone interview was scheduled for the next day. It lasted about 10 minutes and I was scheduled for the face-to-face interviews 6 days later.
This was a series of 4 30-minute interviews with employees of increasing seniority, ending with the Controller. From my point of view, it started out ok and gradually improved. By the time my last interview was done with the Controller, she handed me her card and told me (on a Thursday) to expect a call back from her by Tuesday – and to call her the next day if I hadn't.
And guess what happened.
Did they decide to move forward with another candidate? No.
Did they fill the position with an existing employee instead? No.
Did they put the position on hold? No.
According to the email I received Tuesday afternoon, they decided to fill this position with an ENTRY LEVEL candidate instead, despite the fact that the job description indicated 5-7 yrs of experience minimum – and during my interviews it was discussed at length how my prior responsibilities would fit this role.
I'm still salty about it to this day.