> Unless they are being payed by the government, they are obviously creating value for someone (their customers).

This is only true provided that a free and fair market exists.

Large corporations are often able to exact monopoly rents through a combination of outright monopolization of key resources or capital, favorable / gameable regulations, and by acquiring competition or substitutes, just to name a few strategies.

This means that you and/or your employer might not be adding value at all, but could actually be destroying value, just like any other sufficiently-ineffective bureaucracy.