1. Low Pay - Seriously, and if you manage to make more than 40 grand a year - Some VP's will push to get rid of you unless you're related, or "really good buddies" with senior management.
2. CSS system. If you are a developer and do quality work - the CSS system will work against you as someone that is incompetent will be able to flood more PMG's into the system making it look like they are actually doing something other than sending new bugs back into the system for the competent people to fix. Suck up early and often to keep your job.
3. Hard work and extra hours is expected and not rewarded.
4. Some of the middle management get their promotions despite being unable to do the same tasks as those they manage.
5. If you're a developer, you're locked in a basement (seriously) cube farm. You even have to have your monitor in a certain space. The temp control is awful most of the time, there's mold, and a leaking ceiling where the cafeteria is above the cube farm. It's also right near where maintenance has their office (with associated odors and noise). There's also an enforced dress code (unless of course, the heating/cooling is on the fritz in which case they'll let people know there's a casual day allowed - and they'll send out that e-mail after you go home).
6. Weekly reports on your web browsing are sent to your supervisor by default.
and much , much more...