My experience with the culture was 'we don't have anymore work coming'.
There was this paranoia that everyone would be laid off soon. OK. So, frequent lay-off waves did occur. But the remaining folks had a tense environment. Very stressful.
Some managers a egomaniacs. If you were not the type of person they respected, they bullied you until you quit or were fired due to poor performance (perceived or otherwise). Human Resource department was not supportive.
High emotional and mental stress. Not warm and fuzzy