Pros
The corporate hierarchy is flat, so everyone has a say, yet few shoulder material responsibility for the quality or performance of the finished product. The atmosphere is very relaxed, and the benefits are great. Nobody looks over your shoulder, and the company's employees are able to maintain a more-or-less carefree demeanor.
Cons
To work here you must have no ambition to move up the ladder. By virtue of the flat corporate hierarchy, someone must quit or die for you to enter a position of higher responsibility and compensation. Alternatively you may have a slim shot of moving up if the company decides to create a new business unit (which happens once every five years or so). It is also worth noting that promotions are most often in title only and that compensation is the industry low.