Pros
Very few pros at this workplace aside from the fact that it can be used as a stepping stone to better things. They have issued layoffs to >80% of the staff because management was unable to properly balance a budget. Oh and guess what - your last pay check ends on the very day you were told you were laid off. No offer for compensation, no 2 weeks' pay. Nice! This was clearly done so the majority of those laid off would find other jobs (remember this is a temp layoff) and so Magmic would no longer be required to provide them with exit packages (which would effectively bankrupt the company).
Cons
Oh God the cons.... let's see - Poorest upper management I've ever encountered - Company has no vision and no plans are shared with the 'lower' employees - Salaries are very poor in comparison to other companies for the same positions - Lots of people have an ego problem - Departments operate on an us vs. them mentality - Forced overtime - General incompetence - Much much more Seriously, stay away from this company no matter how great they make it sound.