Absolute managerial disaster, with a complete lack of long-term plan and how-to's in order to clearly execute actions. Mid-managers and Associates are hired as in a bid, paying for them a lot, but with such a high instability they do not last more than 4 months in their position. This causes obviously a feeling of going without direction.
Due to this lack of guidance, you are obliged of plan and set the targets and procedures for achieving the goals by yourself... goals which are constantly moved depending on the interest of your upper managers and, surprisingly, you merely achieve them at the end of the Fiscal Year :-) What is more, you get blamed and punished even publicly in reviews for "not having done things properly".
Additionally, base workers, who are key for the ongoing business of the company, are leaving the company either by themselves or by being dismissed in strange circumstances, due to no long-term career plan or even decent salary reviews. The future ahead is really awkward...