Company culture has tanked under new management, they only care about shareholders, not their employees who have built this company up.
While benefits are still ok, they've gotten worse over time and things that used to be offered no longer exist.
Constant organizational restructures over the past couple of years have caused instability, poor communication and disorganization.
Client perception has gotten considerably worse and is difficult to bring on new clients who have heard so many negative things about the company products.
Many departments have been cut, or majorly downsized and equipment/user experience is starting to fail as employees struggle to keep up with the demands, or are directed to work on other issues while slapping bandaids on critical problems they've been told to ignore. Management refuses to hire more staff because of budget constraints, despite the company making more money than ever.
Compensation hasn't kept up for long term employees.
Original management was involved, supportive and communicated well, willing to jump in if a problem arose, trusted employees to do their job. New management micromanages yet isn't willing to jump in and assist.