The company is run by people who have spent their entire careers there and can't imagine anything other than the status quo.
Innovation is not required, encouraged, or rewarded.
Bureaucratic. Everything runs by timesheet and charge number.
CEO is only concerned with cost-cutting. Everything else is window-dressing. (Imagine a tech company anywhere making people pay for their own coffee. They did a cost analysis and when they saw the monthly coffee bill, ...)
A great place for somebody with limited ambition to watch your career waste away until you can start collecting that pension.