The company until recently had a monopoly on the market, very talented engineers that made great products which shifted the company to outsourcing and cost cutting since they didn't really need much else.
But now are facing the consequences of getting comfortable and cost cutting/outsourcing.
People generally have surface level depth of information their products, their competitions, their sales etc.
People in the past could have done almost anything and the numbers would look good, but now, that no longer works, be it for competition entering the market or high growth targets.
The real star employees have left on mass, making the situation even worse, only the worst are left and they are clueless.
If you get hired, you will need to do their job for them on top of your own job, while getting paid next to nothing for it.