There is no trust amongst colleagues. Nobody knows when the next sudden layoffs or firings will occur, and they are often kept secret for days or weeks after the fact.
Newer management is disengaged from the work force and updates are vague and few and far between. The outlook is grim from what we can see and morale is low because we have seen fellow co-workers dismissed under some really shady circumstances. If you have a VISA, don't take a vacation out of the country or you're likely to get stranded outside of the U.S. when they lay you off with zero notice. I'm not kidding.
Based on what I have seen, the management has very little experience in this industry, and that is troublesome.