Pros
Very respectful and pleasant work environment. Co-workers are intelligent and easy to get along with. People don't play the blame game and most mistakes are treated as a learning opportunity. There is a focus on good work/life balance. Through there are busy periods scattered throughout the year, PL doesn't stick to outrageous timelines that force employees to consistently work weekends or 60+ hour weeks. The norm is 40-45 hrs/week from what I've seen. Good benefits program (health benefits are very good, 401k matching is average) Lots of long-term employees leads to good historical knowledge and ability to avoid mistakes
Cons
Some of the technology and tools are outdated/mediocre (though some are outstanding). Occasionally slow to make obvious decisions due to sunk costs/inertia. Lots of long-term employees leads to insular decision-making in some situations. ("This is how we've always done things")