Pros
Local management at the lower level is great, it's a team oriented environment great for learning.
Cons
Upper management often accepts too much work, lying about the companies capabilities and availability to do the work. Then they expect the lower people to drop their priority work to get it done I had a coworker negotiate for a raise, which was to be given at the end of the year, but bonuses throughout the year would make up for the extra income she was missing out on for 6 months. Well upper management lied about the bonuses, saying after the fact that the company policies say they can't promise bonuses, and went back on their word after looking at the success of the entire section of the company, saying we didn't meet our goals. Well, our group blew our goals out of the water, and management lied about the bonuses (but I'm sure upper managment will get sizable bonuses this year still)