Pros
At the individual contributor level comradery and teamwork is amazing. Great people come together to accomplish amazing things. Great benefits.
Cons
No work life balance if you want to advance within the management team. Management team not very transparent and forthcoming when it comes to employee performance feedback. They have there own agenda and preset game plans for advancement and will manipulate situations by omitting or spinning information in order to fulfill that game plan. If you want to make it through the down turns do not change roles to expand skillset and become "T-Shaped". Stick with one department and ride to the top. Lastly, this most recent layoff was for "Cost Savings" reasons. A LOT of long time (10+ years) employees were laid off. If you reward people for their success and achievements to retain them, don't then lay them off to due to the cost of retaining that talent you recognized.