Pros
Some people are very bright and you can learn new things from them. Company provides training and courses that can expand your knowledge.
Cons
Low employee morale caused by the constant threat of surprise layoffs. One day they give you 10-year achievement award, the next day you clean your desk. I literally witnessed such situation here. Promotions are unheard of. The same goes for the raises. They pay low, and don't give reasonable COLA increases, constant emergency "pay freezes." I had an extremely rude and unprofessional supervisor with the history of anger and hostility toward subordinates and coworkers. I went to complain to his boss. The boss told me "well, you know, that's how he is." Are you kidding me? The company knows about his unacceptable behavior, but would not do anything to correct it! Unbelievable! After I quit I found out that he's a part of the good old boys club so he's pretty much untouchable. This is worse than nepotism!