Pros
The products are interesting to work on. There are some people here you would be proud and happy to work side by side with. At one time, the parking lot used to be filled at night and on weekends because the people loved what they were doing and chose to be there. Although the number has dwindled considerably, there are still some very dedicated people who feel a sense of responsibility for helping the company succeed.
Cons
After laying off large numbers of employees, upper management then instituted a forced ranking system that results in the firing of 10% of employees each year. This is supposed to be the "GE Model" but unlike GE, there is no training, mentoring, or development of employees. Managers also appear to receive no training or other than meetings where they are told the forced ranking system is here to stay and if they don't like it then they should leave. Often times the fired employees are replaced with contractors who are not included in the rankings, so people assume that eventually everyone will be fired. This has caused many of the better people to quit and has brought out some of the worst kind of behaviors that people can exhibit in the workplace. Managers have totally detached themselves from the people who report to them and often treat them with derision and disrespect. There is a general sense of doom and hopelessness. It's one of the saddest environments I've ever seen.