Pros
Decent benefits (cash retirement fund, up to 6% matching 401K, competitive salary). Executive management appears to openly communication about timing of reorganization. If you are one of the 80% who do the least of the work, congratulations and enjoy it while it lasts. If you are one of the 20% who do most of the work, you should be able to leverage the great experience for another external promotion.
Cons
Company is reorganizing to meet the expected future utility market in California, which can create opportunity for lower salaried employees with good technical skills in the utility business. Higher salaried ($100k+) employees must be careful not to outshine their Managers during reorganization. Mgrs cannot deal with technical issues. Managers are insecure because some have been promoted because they don't threaten their hiring managers who are equally not as competent as they should be.