Pros
Hopefully the almost complete change in senior management will have a positive impact and hopefully Waters will continue to be profitable company as it has been in the past. Waters is not known for big layoffs.
Cons
A large percentage of long-time employees are retiring and the company doesn't seem to to be doing a good job with knowledge transfer. The company is also having an identity crisis. In some ways, it's trying to prepare for a younger workforce, but that's not making many of the current employees happy. There's been also a lot of uncertainty for a year or so now. People are concerned there will be layoffs and major changes, and management isn't really addressing that. It's lowered morale and changed the work environment. Also, a lot of talented people are leaving because of the climate and a lot of the old timers are becoming disenchanted. The company no longer has the good work / life balance it used to.