Pros
Don't try to work hard - work smarter rather than working harder. Come up with a "brilliant" idea and then present the idea - don't worry about delivering, because that's not how you're rewarded.
Cons
Lots of good people - including two of our six fellows - have retired or moved on since our management change. People are encouraged to not talk with people in other divisions, in the all so horrible case they learn about information like layoffs. Its almost like leadership is afraid of their team, because leadership knows that they're doing the wrong thing.... Culture kills your creativity. Leadership may have even cancelled our yearly get together this year on Christmas - a tradition that we've had every year since the HP days through multiple economic downturns. Actions speak much louder than words - and this applies as much internally as it does with customers.