Constant change in org structure, reactive (rather than proactive) approach to most workflow, noticeable incompetence or lack of character in select leadership, big learning curve for new employees, easy to get lost in large employee group.
Generally, I would say that *for the right person* this is a great place to work. If you are a self-starter with a stellar ability to know yourself, your boundaries and your skills, you'll do great. If you are a "yes man," the workload might just eat you alive.
If you thrive on energy and are motivated by a good challenge, you'll love the excitement of the matrixed, evolving organization. If you like stability and predictability, I'd suggest you look elsewhere.