Pros

Chance to work on latest technologies and processors
Opportunity to work with high end tools
Professional work environment and support teams.

Cons

Dotted line and matrix reporting causes more confusion than its usability.
Adhering to processes is a bit lax (though it seems to be improving now)
Managers dont have much capacity to identify performers from non performers hence career growth gets difficult.

Advice to Senior Management

Need to adhere to processes on engineering side.
Need to reduce the dotted line and matrix reporting which allows non-performers to survive.