Pros
Nice, new office buildings with lots of windows. A chance to work on close-to-leading-edge technologies. A lot of bright, eager new engineers and some very smart experienced people. Most want to do the right thing to make Fab8 successful. Pay and benefits in alignment with industry standards.
Cons
Forced ranking and rating system seems designed to demotivate the mostly very good to excellent workforce. The already poor moral takes a predictable plunge to abysmal every performance review season. Many hours are spent on documentation and meetings when even 1 wafer is scrapped instead of focusing on real improvements. Work-life balance is horrible. It's made worse by managers who want people onsite during weekends and holidays regardless of whether it's needed or not. Way too many inefficient meetings where no real decisions are made. Only upper level management can decide things. Some in management think the best way to get results is by yelling at the employees and each other. People are leaving in droves, but HR and senior management just blame the first line and middle managers instead of addressing the systemic issues.