Weak and incompetent senior management. Mostly made up of sycophants trying to appease the CEO or the President. "Doers" are forced to work on meaningless tasks in a continuous political game between VPs and departments. Forget about doing what's best for your team, client and the company: you'll be working on nonsense projects to reach meaningless goals with made-up deadlines.
If you value your experience and skills and take pride in what you do, this is clearly not the place for you. If you're a smooth talker with no backbone and no talent, you're probably already being interviewed to lead a team to the next random re-org and round of silent layoffs.