Constant reorganisations of management structure which don't let the processes settle, so you'll be non-stop bothered with adapting to new rules instead of doing your actual work.
Top management has no counter-balances, so they're free to break their own rules - promote friends, openly lying on all-hands, organise meetings in Barcelona when the company cuts all expenses, etc. Lower management tries to do the same and mostly it's being covered by their bosses. Though new top management looks more adequate, but the previous few years were a management disaster and currently the company is in pretty bad shape,
Nepotism on all levels.
New projects are being opened in India office, old projects are also being moved to India, the Dutch office is on a very tight budget for everything - promotions, trips, learning.
Salaries for developers are below the market and almost don't increase, so prepare to fight for a good starting salary and leave in a couple of years.
A lot of good people left in last few years.
Irdeto used to have a very healthy corporate culture, but it was destroyed in past few years. I'm not certain what are the current values and if they actually exist (formal official statement doesn't count).