Operating too long with too much overhead. Too many senior reps and PMs coasting on fat salaries and bonuses without the workload to justify. You simply cannot function forever like that and expect to remain successful.
Exactly what @6peu+17sY380K said. Now if get rid of at least half of senior and mid management - since most of them are useless as it is - we might be able to right this ship. Other than that, we are done.