Ever since Sybase got acquired by SAP, company morale has gone down, as Sybase management was pressured by SAP to cut head counts, make stupid changes to the work space (so they can catch up with the trend? Give me a break), replace existing software systems with their own dumb systems. At lease one manager started using fear tactics to micro-manage employees. He would time how long you were away from your desk, observe how you would sit or speak in meetings, and pick on little things that weren't issues before,
They also tried to adopt the so-called agile methodology for everything, not realizing that it just won't work on every single project. A couple of long-time employees who were selected to be the SCRUM Master also started to think they were now the "managers" (just the opposite, a SCRUM Master is NOT a manager) and started to boss people around. Since then people started to leave the company.