Programmer here. I've been in two places like that. One relied on its reputation to leverage and squeeze people to the last drop; the other, more realistically

Programmer here. I've been in two places like that. One relied on its reputation to leverage and squeeze people to the last drop; the other, more realistically maybe, just paid a lot and expected a great deal of work and a constant display of busyness. Both companies eventually had to face very serious issues caused by an unnaturally high staff turnover. Admittedly, a great company culture can be seriously financially rewarding if the management is able to create and cultivate it. Since not everyone has this ability and, let's face it, some software products are just dull to build, but still have a market, I guess that a moderate amount of squeeze works for long enough for the average so-so manager to justify their salary until they leave themselves, without giving any real benefit for the company in the long run :(