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Challenging work. Some teams have amazingly talented people, and there is a lot of opportunity to grow and develop in some areas of engineering.

Very political environment, with performance reviews unable to account for technical input and outcomes. They rely extensively on "being liked by everyone" and being agreeable with whatever nonsense managers may dream up overnight.

Senior management does not care about individuals; they think everyone has the same needs as them and tries to fit everyone into the same model that works for them. The best example for this is the latest return-to-office change, which indiscriminately expects everyone to further tweak the hybrid model.

If you want to do layoffs, just do layoffs. Don't make the best people leave on their own terms. Some people don't care about "better office facilities" and are contributing way more by not commuting to work less.