Pros
LS & Co has a very talented and smart workforce, very open floor plan (I personally like but others don't), casual dress code, offers a flexible work schedule, great vacation benefits and OK medical benefits.
Cons
Unfortunately, there are continuous reorgs / layoffs (almost yearly), an upper management team that can't make decisions and can't stick with a vision or strategy, a VERY political atmosphere where favoritism trumps performance, limited opportunities for advancement and a poor work / life balance as each reorg requires remaining staff to take on more workload with no incremental pay or title change. The company also has a large debt that's publicly held, limiting overall growth while making the environment VERY stressful on a daily basis.