Pros
Work/Life Balance, Marketing, Property Management, Focus is on building a culture that will complement the new branding. You WILL be low balled but good negotiation skills can get you a decent salary that can be close to market, if you are in demand.
Cons
Too many layoffs. HR has the policy of "Boss is always right". No growth prospects in many departments especially at Corporate. Too many Managers relative to the actual working staff. 4 people managing 1 person scenario is very common. Be prepared to get micro managed. Unfortunately the middle management on a whole is very inept and their elimination might not even create a small dent in the company's productivity. They are employees who have been with the company for 10+ years( who plan to stay put) and became managers because of the tenure and not because of their skill level. Difficult, if not impossible, to grow past them.