Pros
Flat organization within software development which allows individual contributors to own tasks, communicate with stakeholders, and have true product responsibility and accountability.
Cons
Management team is not transparent and even worse not aligned. There is no coherent vision or message, and they don't listen to feedback. They believe structure changes culture; therefore, there have been many structural changes in recent years, but the distrust, lack of information, and lack of investing in employees makes morale very low. The senior management team runs the company like they fear for their jobs. Decisions made beneath the senior management team are changed, ignored, or punished. Moreover, HR does not support employees. They support the senior management team. HR processes are back in the 20th century.