Constant anxiety over if the company will shut down due to poor financial decisions being commonplace - a sense of always waiting for the other shoe to drop.
There are a handful "employees" who suck up payroll dollars in positions not requiring full-time employees or they just have a much weaker work ethic than others. These are ignored by upper management and is very poor for morale when some are overworked and see others show up for 5 hrs and get paid full time or take more vacation/time off than is even offered.
Medical benefits are not great.