The CEO and some CTOs don't listen to input (and they are never wrong!). They also enjoy very much putting people in their places, quite often in a completely disrespectful way.
Some CTOs are stuck in the 20th century, in technology, innovation, management style, and response to an always changing market. This results in some truly baffling decisions, that sometimes end up being reversed in the late part of a development cycle because they are completely inadequate.
The company is divided in several units; they charge each other for work. There's no sense of collective between those units, instead a rivalry is cultivated by some CTOs.
There are people promoted to high places for their family ties. An year of incompetence on your first job is enough to see you promoted to a newly created role managing a team (with a company car).
Less qualified workers are treated like crap. After reaching the maximum number of contract renewals, they're sent home for 6 months instead of being hired permanently.
Because of all of the above, the retention rate for young people is awful. People end up feeling miserable and leave. This makes the average employee age quite high.