A now highly toxic atmosphere that is the result of rush acquisitions and mergers with no thought or planning. Most departments are run like tin-pot dictatorships that refuse to work together for a common goal, resulting in consistent blame-gaming between departments and for the most part completely incompetent middle managers desperately trying to impress upper management to avoid further scrutiny of their poor quality of work (even to the extent of falsifying performance figures). Any department performance deemed as "poor" in the eyes of upper management results in an immediate witch-hunt and unwillingness to understand the processes they enforce.
Any members of staff that attempt to raise concerns about operational issues (or any issue within the company for that matter) is immediately branded as "defeatist" by management, and are no longer included in projects or further advice sought of them. It is impossible to be a realist, and try to tell people how it is, management only hear what they want to hear.
Because of all of these things, there is a mass hemorrhage of staff whop are highly skilled, and highly knowledge of their respective businesses and departments. Instead of replacing these individuals, more management staff are parachuted in from industries unrelated to this industry, and have little to no positive input to day-to-day running of the business.
The customer experience has only suffered from this, with finance staff, account managers, and technical staff all leaving or being pushed out of the business. Customers now cannot reliably query billing, place new orders with an account manager that has a prior relationship, or raise technical issues with engineers familiar with often bespoke technical setups or past issues.
Staff generally are of low morale, but when this issue is raised with management, staff are told to "take a closer look at yourselves" rather than actually find the root cause of low morale.
Aside from this, pay reviews are non-existent and the question is actively dodged when raised with management (In keeping with rumors of cash-flow issues). Different members of staff are on different contracts, resulting in different holiday allowances, different pay scales, and different benefits (not that any real benefits exist). There are no opportunities for career progression, nor are there any training or development packages.
The company I worked for prior to the acquisition was the opposite of all of the above.