The leadership is extremely cliquish and exclusive club. In order to succeed in your career, you can only either pull strings to be part of the club, learn to speak the same language or else you can only depend on your close allies to hopefully maintain your status quo.
Leadership can also be extremely disorganized, with managers failing to perform regular 1:1s, set clear objectives or coaching direct reports into succeeding well. There's no transparency in communications. Requests often reaches the floor with hardly any impact analysis on tech or team's velocity, and ideas are changed flippantly and frequently.
Culture has also shifted in recent years from that which was very family-like and people-centric, to that which is bottom-line and resource-centric. HR is mostly talk and no substantial action. Loyal and hardworking long-term staff (5 years or more) that decided to leave or got retrenched are often let go without compassion or renegotiations. Your fate is fixed by the club.