Pros
Compensation: my group is now forbidden raises for the next five years, though for top performers they just hovered around inflation rate previously so you better get a salary you want going in. Time-off policies: if your contract is delayed in being awarded expect to be offered no coverage and to have to use up your annual leave or go leave without pay, oh and the holiday hours that the company doesn't compensate you for when you leave the company will probably be off limits. Company values: well it doesn't value you, you are an expendable cog, but it does give three million dollar pay outs to executives, must have been quite a performance...
Cons
Promotions: if you're promoted within expect no increase in compensation to accompany the increase in workload. Work-life balance: well if you're not valued and know your job is at risk with each contract closure and can cope with that added stress then your work-life balance should be fine. Benefits: well all of those have been cut so expect to pay more for all your insurance needs, but they do send out a lot of useless propaganda foam coasters so your table will be well protected I suppose.