Pros
This is a technology company. For engineers the work can be interesting, and there is a decent amount of opportunity to learn new technologies, though management is generally resistant to incorporating new technologies or ideas. These are not "early adopters" by any means, until about a year ago they were still using SQL Server 2000. (This was in 2010)
Cons
Very unhealthy corporate culture. Senior management recently awarded themselves a second round of stock options equivalent to five times (500%) the industry standard for executive stock option compensation for 2010. They then used those same 'industry standards' to cap all employee salary increases to 3% or less for the year. They then cashed out nearly all of those options they had just awarded themselves. They are almost all completely divested of the company at this point. One wonders if this is simply a strategy to get yet another options award to keep management incentivised. There is little to no formal recognition of engineers who create the products that are making these managers into multi-millionaires. There is an immense amount of anger in Engineering towards management, which may explain why we haven't seen the VP of Engineering in nearly six months.