There is an undertone of bias. You have to network with the right managers to get ahead (this is from observation not personal experience) - I'm not trying to climb the ladder.
Company changes (with globalisation) is causing the company to operate in silos. With their very specialised groups it's harder to get a sense of accomplishment.
The company invests more in technology that their employees.
They have a hyper approach to risk management to the point if one person makes a mistake it could change company policy for the entire organisation, so processes and procedures are hard to keep up with and keep straight.
Due to the growth in the company employees are becoming more like a number than a person. Some teams are managed remotely - which loses much of the personal touch.
Performance management is regularly over shadowed by the appraisal process vs actual attempts at improving staff abilities and skills. For instance, their attempt to keep up with the trends has lead to the appraisal process changing every other year more recently to a bell curve model where employees don't get graded on their abilities but are measured against their colleagues. Training is generally via e-learning and with a knowledge test at the end of each one, staff are more focused on passing the test than learning the content.
While most managers are pleasant some have God complexes and create a hostile environment, which drive high turnover rates, but the issue is overlooked.
HR is often understaffed to the point they are so focused on task related issues (admin) than being able to see and address toxic issues.
There can be a sink or swim mentality to the training culture. I.e. there is an expectation that everyone will be a self started and will grasp a concept the first time. To a degree if a person doesn't they fend for themselves and are assesses based on that performance.
Advancement opportunities are location dependant. Smaller offices often get lost in the shuffle.
There is little opportunity to influence change, so if you are an engaged employee you may not get a sense of your worth.