Upper Management doesn't actually trust managers to manage(which is fair since they don't know how to promote.
About 25% of managers are absolutely horrible, 25% pretty good and 50% somewhere in the middle. Who doesn't love gambling with your livelihood and sanity.
They say things constantly change. That's wrong. You will always be on the chopping block as they don't so much as try to inspire as inspire fear.
Innovation is throughly quashed. You might have great ideas to improve products but unless you're the CEO, it's garbage.