At mid-level, there is no chance of career progression: if you are in the right "friend of friends'" circle you already got your position, if you are a CEE man you have you patron and career path well pushed. Alternatively no chance at all.
The CEO business plan to deliver huge job cuts is jeopardizing the company from the inside: good people escape, HR cannot relocate resources to fill the gaps, and the survivors get exhausted.
Good luck if you chose to join it.
no career, no merit recognition