Sun Microsystems – “Sun: A Formerly Great Company. Now, Not So Much.”

Pros

Pay is equal or better than elsewhere in industry, great benefits (though they slip a little more every year)
Flexible work environment, including telecommuting
Work/life balance is important
Friendly environment

Cons

Never know when you're going to be laid off
Managers manage from the top down; company vision is just a game of "buzzword bingo"
Extreme focus on the appearance of caring and competence
No growth opportunities; random work schedules don't allow for training
No opportunity for promotion
Fixation on outsourcing as the salvation of the company -- no in-house support for anything, from HR to office computer maintenance
Easy to wind up in a dead end
Lack of project planning means that the engineering staff is always on the verge of burnout, deadlines are only a suggestion
No rewards or recognition for doing a job well, unless you're well connected with favored managers
As long as a bad manager has superstars working for him, they'll allow that bad manager free rein to do as much damage as he can

Advice to Senior Management

Quit using layoffs as your only means of cutting costs. Get rid of Jonathan before it's too late. Stop acquiring companies; you never do anything with the technology and you end up killing them anyway -- and laying off the people involved. For the sake of all that's holy, sell MySQL before you ruin it, too.