Pros
Taught me what traits to be very wary of in a manager. I had 3 direct supervisors in the 7 years I was with the company. The first, and best, left less than 2 years after she hired me. The last one "works from home" almost as much as she is in the office. Favoritism is rampant. If you are "her girl" you can do no wrong. Even rudeness to employees calling for benefits assistance is acceptable, as is surfing FaceBook or online shopping while on the clock.
Cons
When I started, we got 2 sick days per year that could be rolled over if not used. Vacation time was awarded on your anniversary date and you got 1 week after 1 year, 2 weeks after 2 years, 3 weeks after 5 years and 4 weeks after 10 years. There were 8 paid holidays. Short Term Disability was a company paid benefit for all employees. When I left, the sick days were gone. They were now part of the "PTO" policy. PTO is now accrued during the year and the amount of time you "earn" each pay period goes up depending on years of service. When I left, with almost 7 years of service, I would have earned 14 PTO days in that calendar year. Paid holidays had dropped to 7 - they took away the Friday after Thanksgiving. Short Term Disability became an employee paid benefit starting in 2009. In the 7 years, I received a total of 3 pay raises. All of them were in the last 2 1/2 years I was there. One was tied to a "promotion" after I went to talk to my manager about my salary compared to my responsibilities and skills.