Pros
I don't see any for engineers. Applicable only if you are a manager, you can micromanage your resources and get praise from upper management.
Cons
No work-life balance - sets nonsense deadlines for engineering work. Even if one argues with management based on facts or relevant experiance, they just discard feedback from engineers, instead asks questions on the attitude of the engineer itself. Quality of product headed downhill because of this. Asking non-sense update on tasks at any time (during weekends, late nights) even though they had updates just a few hours back. Micromanagement is Cool here. Management makes sure that you made feel you are not important to the company. They can let you go at any time. (one of the recent all-hands meeting with engineering head started with engineering head saying good news there are no layoffs now) they give out only 50-60% of the bonus mentioned in the offer letter, so beware.