Pros
Good compensation and benefits, although the benefits have been reduced somewhat significantly in the past 3 years. Most employees are competent and dedicated.
Cons
The company has gone too far in workforce reduction, to the point that their ability to execute on existing contracts is jeopardized. A few absolutely critical people have been "released" by managers who were put into their positions recently and really didn't know their people or who the strongest performers were; hence they laid off resources critical to on-going work. The "survivors" are now truly over-worked. Acquisitions over the past several years have almost all turned out to have been major mistakes. But, there has been almost no accountability for these mistakes.