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If you are good at self-directed learning, it is a fairly decent learning environment.
Some managers like to take on a huge pile of work and then force their subordinates to work overtime to finish it by the deadline. In my opinion, this management style is no different from killing the goose that lays the golden eggs. When business is good, you can get away with doing this; at least everyone who is pressured into it still gets a year-end bonus. But when business is bad and you still pull this kind of stunt?! Why would capable people obediently let you pressure them? Of course they will run for the hills. Those who remain are often the hardworking, obedient types who managed to get promoted, or ordinary people of average ability who cannot get into better companies.
Later, the company paid the price when recruiting, heh heh. Skilled people were unwilling to join, while the weaker hires were not very productive. It really was reaping what it had sown.