Pros

Advancement opportunities are available to those who perform well.
Good environment in which to work - employee morale is a key strategy.
Good benefits - better than what other companies offer on average.

Cons

You must be mobile in order to advance within the company.
They are in a cost cutting mode currently so merit increases have been frozen.
Functional areas can be very silo'd and difficult to coordinate.

Advice to Senior Management

Focus more on top line growth and profitability rather than only cost cutting initiatives that are endangering the futre health of the business.