A popular “weasel phrase” used frequently by merger integration consultants, it refers to a negative situation that is outside of one’s sphere of influence and as such should not be further pursued in hopes of resolution. An approximate translation could be: “this is f*cked, but I can’t fix it, so why bother”.
"This company is rubbish. Their systems are stuffed, all their good staff are leaving, and just when the sh*t is hitting the fan, our manager goes off on holiday to Hawaii. But it is what it is, I guess...”