Pros
Working with some the best people in the industry. Decent pay relative to the cost of living in the area.
Cons
Employees are becoming less and less valued. Layoffs are a regular occurrence, and there are very few employment opportunities in the area. In addition to layoffs, freezes on salary increases happen fairly often. The performance management system requires a forced ranking of employees into categories making a majority of the employee population feel scared and undervalued. The only real incentive for working harder is not losing your job. Folks are constantly being asked to do more with less and less, and their performance has to be better every single year. Otherwise they will be labeled partially meets or does not meet expectations. And once they are labeled, it is very easy for management to give them the same rating every year regardless of performance. This also makes them a potential target for the next round of layoffs which are inevitably around the corner.