Pros

Provides flexibility to work virtually (restricted to certain positions)
Have reasonably good benefits (medical/dental/vision/employee assistance)
Good Infrastructure for online learning, and partner materials (Microsoft, VMWare etc)

Cons

Big disconnect between upper management and the employees (especially delivery teams working on long-term projects)
Disconnect between organization vision, mission and established practices.
Highly demoralized workforce (the mid-level management does not have an explanation/insight for organizational actions - like the recent reduction in workforce initiatives)

Advice to Senior Management

Bridge the gap between preaching and practicing