Pros
Great company at the beginning. Great employees, who worked as a team and took pride in the project. I learned a lot from my coworkers and made some wonderful friends. The first project manager was the best boss I've ever had. Senior management is a great group, and some have helped protect employees from middle management.
Cons
Project-level and middle management is awful. Terrible pay. No loyalty from managers. A lot of turnover. Major lay-offs took place on team. In three years, the team had four project managers, three project directors, and moved locations three times. After the first PM left, everything went downhill. Team works in fear of losing jobs. Some great workers were fired. They were replaced with people who have no skills, but were willing to work for less money. Most of the work is completed by the same small group of people, who work 24/7 (holidays and weekends and while on vacation-one employee took calls while in the hospital). Requirements aren't provided at the beginning of the projects. Due dates of deliverables are provided at the last minute. Management makes employees feel guilty if they have family obligations. There are different rules for different projects, and people on each project. No telecommuting. There is a lot of backstabbing and in-house fighting. The first person to complain to the manager, is the winner. Nobody else matters. Promotions are non-existent. If promoted, only the title changes, not the pay.