Pros
Vocations are generous. Benefits are good.
Cons
New management shakes up the whole system and shifts the direction of the development to a total different direction, without understanding what exists. Either they don't want to know, or they don't understand and just have the urge to take ownership of something new so that it looks good on their book.
Existing employees are treated as minions and shuffled around without considering much of each employee's expertise. Employees stop or hesitate to give suggestion because they know it doesn't matter and it will bring in adverse affect instead.
Project Management is a disaster. There is no transparency on what's inside the big head. There is a lot of times wasted just for the sake of project planning. Most often meetings ended without any decision because nobody could make a final decision except the big head who doesn't even attend the meeting.
Come on! Which company's president would close his office door coding all day long to bake something that is total foreign to majority of the workers? Which company would switch the database platform from one to another at the close of the product release? Why would it make sense to switch from one technology stack to a totally different stack which most employee is not family with, just because the big head only knows the new stack?