Pros
The benefits used to be exceptional. With the cut of the pension plan ("and it's gone"), they are still probably really good , with lots of vacation time, 401(k) match and the 12 weeks maternity/paternity leave. Work-life balance was tremendous, but that doesn't appear to be the case anymore with layoffs leaving significantly fewer people to do the same work.
Cons
-Compensation not tied to performance and potential. -Review system and job grading are meaningless and insulting when top-rated performers are still shoved to the bottom of the pay scale with no effort to move them up to even the middle of the salary range. -Senior management either has no idea what is happening on the ground-level, or worse, doesn't care that their subordinates are being put in a position to fail. -The declaration of the CEO about the lack of growth potential, cuts to perks and benefits and continuously looming layoffs creates an atmosphere akin to a morgue or Cincinnati sporting event. -Management treats employees as liabilities and a burden instead of the assets they (mostly) are.