Pros
A lack of general political infighting allows most staff to function somewhat independently; this results more from a lack of management knowing what is happening throughout the firm that the intentional creation of an environment for growth and advancement.
Cons
A total lack of communication at all levels withint the company, even at highest levels of management, would suggest that their tradition of responding reactively rather than strategically to a changing market for services has ceased to work any longer. Having ridden a wave of major corporate relationships for most of their history, there is a real lack of leadership in charting a new course that responds to a vastly different market, and as others have stated, their slash and burn approach to staffing levels leaves them with an inflexible structure of inexperienced junior staff and dead wood at the top. If you're looking to build a career in the profession, there is likely no future for you here, and no benefit to the experience gained for future employment opportunities.