Pros
You can move around, work/life balance has improved... But this is in part because people care less about what they're doing.
Cons
In the last three years the company has changed significantly. Many senior figures have left (effective ones and dead weight) and many senior technical resources have left. Change needs to happen in a business and there were things that definitely needed to be improved in the old system but what we have today is chaos: lack of defined org structures, barely performing functional staff, a technical company run by over-empowered operations teams and management that are constantly in-fighting to preserve themselves and not caring about their teams at all. There are, of course, exceptions to this, but they're becoming increasingly rare. The culture seems to be based heavily on nepotism rather than the meritocracy it used to be and the firm seems to be becoming decreasingly diverse!