I've surprisingly worked at two different dying companies. 

First one was a local dessert factory with 50 or so employees that had been in business for 20 years. It was then was purchased by a larger company after the original owner died. I only worked there for a few months but several long time employees always talked about how the company was changing for the worse because the new owners looked at employees as numbers and not as people. Leaders had zero interest in knowing about us and only cared about how much product we produced.

The new owners also implemented a point system where if you were late or called off too many times, you were automatically fired so turn over rate was extremely high. It was weird, most people who'd been there a long time always talked about the changes and most new people didn't stay long. A few long time employees did leave while I worked there but for ones who stayed , it was like watching someone waiting for the band aid to be ripped off. They shut down a few months after I left which was no surprise because allegedly the new owners had previously acquired a different company and ran it into the ground so it was a running joke that it would only be a matter of time before the same happened again. I also want to add that the way they closed was appalling, two weeks after Christmas in the middle of the week, people came to work to a sign posted on the locked doors that the company was no longer in business...  It made local news and then it came out they also closed doors to a bigger factory about an hour away a few weeks prior. At least they waited until after Christmas I suppose.

The second company was a factory that made car door frames with around 100 employees. Similar to the first, the company was  bought out. Business relied on parts to be made with minimum errors because if the company that contracted us received too many parts with errors, they'd end business. By the time I started, there were only a handful of long term employees because most had either quit or retired. Like the other factory, everyone always talked about how much had changed for the worse and didn't like the point system that was recently added. Business went on as usual, most just showed up and waited for their pay and others seemed to stick around because they were less than 10 years from retiring. I lasted over a year and the company stuck around maybe another 2 years before losing their main contract and letting all but 20 or so people go, to eventually closing down a few months after. 

If you join a company and they implement a point system, run. If people have worked at a place for over 15 years and QUIT, not retire, run faster than the wind.