Pros
The front-line managers care and protected the team as much as they could.
Cons
January rings in a new year and a new sense of doom for employees fearing for their jobs. Front-level management cares a little too much and protects the team in an unhealthy manner. Fat could be trimmed to make a team run well, but usually isn't. When folks are cut, they are measured from a political perspective (tenure, friends/ties, etc.) and not what they can provide or do for the company. No career development. Teams are built in a very flat manner, which gives team members little room for advancement. Even if you execute your job wonderfully, there is little opportunity for you to advance since there's a strong feeling that choices for promotions/advancement are done from a political more than pragmatic perspective. Senior management feels dishonest and when they speak to you, it feels like they're trying to sell you a used car (and not a good one). Often times, when there are layoffs, executive speeches are contrived, insincere, and leave you feeling like they were just trying to keep rats from fleeing a sinking ship. I cannot blame them for managing the company with a cost-cutting strategy, but I always appreciate honesty so I can evaluate my career options.