Pros
Getting to work in design, verification, simulation, timing analysis, synthesis and layout provide a good all-round work experience and career launch pad, if you are lucky. Senior designers are very talented and experienced. Good place to be if you are planning to leave for higher studies or switch jobs.
Cons
Management is TOTALLY unresponsive to employees' personal needs. Leave approval is tough and unpaid overtime is a daily phenomenon. Pay is peanuts compared to similar job profiles. There is no career growth ("conservative"). Company doesn't spend on employee training or technical conferences. Senior designers are too overloaded to mentor anybody. They didn't need to layoff anybody because the average employee here leaves after three years anyway!