Pros

Get to work on some pretty cool stuff, depending on the role you are in.
Usually it is easy to move between roles in the company and try out different stuff

Cons

Slave drivers, staffing is skewed, which means some roles are very hectic while others are sitting idle. Overall, you will end up working 50+ hours a week, atleast for a few months in a year.
The hierarchy is shallow, which means you almost never get promoted. No fixed career path like other companies.

Advice to Senior Management

Needs a big shakeup. Software has too many levels of hierarchy.
Hw employees need clear career path for employees.