Pros
I had been contemplating leaving G&D a few months back because it was so frustrating to make improvements - or even get the work done. A lot of upper management had been over-promoted. Some were good people who just didn't know what they were doing, and some were just lazy. The owners changed the leadership, and quickly the new team has made dramatic changes for the better. We use to talk and talk and talk and never make an action - now decisions are made and the work is getting done. I like working at G&D a lot more now because I feel like I am actually accomplishing things now.
Cons
It was hard to take the 5% paycut. I understand it because the old management had us dug in such a hole, but I hope it comes back to us quickly. It is also hard because old management and employees that were cut are trying to stir up trouble.