Pros

flexible work environment.
still have the job even during the recession.

Cons

Lack of integrity and transparancy from the management has creeped in off late.
Treating employees like a burden.
No visible career path.
Promotions based on how well you lick your boss's a$$ rather than performance.
Lack of direction in company policy.

Advice to Senior Management

Commit to the people of the company and thus by to the company itself. the so called huge paycuts you have taken is nothing more than just an eyewash. you will be faced with huge brain drain once the economy is up.