Pros
The Company is in a very competitive industry with Goliath i.e. Intel being the competitor. The competition coupled by the costly acquisition of ATI has hurted the company a great deal making 2006 - 2007 the darkest times in the company's history. However, management has proven itself by willing to take drastic corrective action to improve the situation in the company. Some of the great initiatives taken include changing the leadership to bring in a fresh start, divesting in non-core competency areas i.e. foundry business and focusing on IP, downgrading class of air travel from business to economy, etc. All these and more are setting AMD up for the next wave of success.
Cons
Intense competition from big brother Intel will continuously make working at AMD unstable.