Pros

1) Very reasonable compensation
2) Great company to have on your resume
3) Youthful and fun coworkers

Cons

1) Over 90% of the time, you'll be doing absolutely mind-numbing, monotonous jobs that can easily drive you insane. Lots of room to improve the processes and make work more efficient and enjoyable for engineers. However, managers are more focused on pushing out project after project. Investing the time for process improvements is absolutely not their concerns.

2) No room for professional development. You'll be pigeon-holed into doing the same thing over and over and over... Forget job rotation and learning new stuff. Managers pay lip service to such things but take no action.

3) Communication between groups is bad. Project planning is very disorganized. Engineers often need to work long hours/weekends for managers' poor planning.

4) Constant reorg is absolutely annoying.

5) Management has absolutely no direction. Just a while ago, upper management was constantly chanting "We have to win" at all-hands. Watch closely and you'll see that no alignment in action has taken place at all.

6) Engineering excellence is not recognized nor rewarded. Your perseverance in finishing crap jobs is valued more than outstanding engineering work. Company talks innovation but doesn't value it.

7) Lots of weasels (ppl who try to shift work to others). But this is quite common in other companies too.

Advice to Senior Management

Retain your best talent and cut the fat (there's a lot of it). Provide clear directions and act like you mean it.