If you turn down a promotion at a large corporation, will they find a reason to let you go soon after?

I work for a large, nation wide company, and have relocated once already to accept a position. I was denied promotion at my current location, but there is talk of relocating me to run another location ..... Having been denied promotion once already, I would be given an 'easier' assignment if promoted,... show more I work for a large, nation wide company, and have relocated once already to accept a position.
I was denied promotion at my current location, but there is talk of relocating me to run another location .....
Having been denied promotion once already, I would be given an 'easier' assignment if promoted, but the pay raise would be much less than if I had been promoted locally, and of course I would have to relocate again.
This does not sound appealing to me, and I would just as soon stay put with my current job title and pay rate.....
Would this be considered biting the hand that feeds?
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