Pros
Great co-workers. Plus, low stress due to lack of management oversight, leadership, accountability, performance metrics. A great place to put in your time and draw a paycheck; albeit at below industry standard for your job title.
Cons
Buffoonish, incompetent corporate leadership with zero strategic vision. Resulting in depressing failures of key initiatives after years of effort and millions of dollars invested. Constant upheaval and change due to an "idea of the month" management style. Frequent resignations of key people due to frustration, poor morale, lack of salary increases and no hope for things to get better. Repeated layoffs due to dire financial circumstances.
Line level managers and supervisors are very weak. Just punching the time clock and laying low. No bold leadership. Only fear of attracting negative attention from corporate leadership. These managers and supervisors serve merely as clapping seals for corporate leadership.