Pros
It's a good steppingstone for something better elsewhere. Use it as a place to gain experience for beefing up your project management resume.
Cons
Management is inexperienced and makes poor/questionable decisions at the expense of the employees. They tend to blame instead of take accountability for departmental issues that have persisted for years even though the employees have changed but the management team has stayed the same - even more so, the responsibility for fixing those issues is the management teams and they've failed to do so. Standards and basic resources required to help employees complete their jobs successfully were not provided until a consulting firm was hired to provide them for them - it was new ownership's decision to hire this firm, not the managers who've been there for years, so their foresight is lacking. They tend to shun opposition and won't promote individuals who will execute on their decisions despite being open to challenging them before hand - they promote those that agree with them even though they've consistently demonstrated poor decision making throughout their time there. An example of their poor decision making is them deciding to sell product for free or at a negative margin and expecting the project management team to make up for it. They've restructured roles defining Project Managers are no longer supposed to do Sr. Project Manager level projects but force them to do them anyway. They tell some employees they have no money to offer raises but provide them anyway to others behind closed doors. Overall, they are consistent - consistent at lacking accountability and self awareness, consistent at promoting an environment where employees don't feel appreciated and are too afraid to be upfront about how they're doing, consistent at not doing the little things like meeting with their team consistently to provide them constructive feedback to help them grow, and, finally, consistent at failing their employees without taking accountability for their part in that failure. What is the work environment and culture like at the company? Toxic - when someone once asked how they planned to fix a forecasting problem they openly admitted they have failed to fix for years, their response was, "We're going to start firing people." This shows how little accountability they show for problems they're responsible for fixing