Pros
Good discounts, a "green" company that supports the environment, outwardly a relaxed and pleasant working environment, a co-op (not a publicly held company) that is not driven by stock prices, etc. Senior leadership is still pretty good, and on the ball for the most part.
Cons
I believe that some significant pockets of mid-management are more interested in managing their own careers, titles and pay scale at the expense of advancing the business, or even keeping the senior employees that got them there. (Allegedly, reportedly, "on the down low", etc. a significant number rumored to be at least 150 (out of approx 1200 total at HQ) mostly, senior-level 10+ year-tenured staff and management employees -- with all the ones that I know, having a history of major contributions and perfect performance records were laid off at the company's headquarters in March 2013 plus an "unknown number" more at the stores.). This appears in my humble opinion, (since they are not really saying, and being publicly as vague as possible) to be an arbitrary, simple cost-cutting measure, i.e. remove the "more expensive employees". In addition, in my former department, I had noticed in recent years, that promotions and advancements were very few and very far between at the staff level. In my opinion, It looks like they possibly want to maintain a mostly entry to mid-level position to keep costs down. Per all of the above, I think it might be a good place to get your "feet wet" coming out of college or early in your career, but you might not want to plan to stay working at REI for the "long haul" as like me, you may never make it to see the highly-touted "sabbatical" benefit (at 15 years). Unfortunately, I think some career-limiting, and very negative precedents have been set with this particular lay-off, and a strong message has been sent to all remaining and future employees via these actions. My advice: If you stop advancing for any length of time, or are working in an area that is not the primary or a significant focus for that given year (or even a 6 month period), move on in the best interests of your career -- or they may do it for you ! I believe now that staff employees have become "a commodity", or "a number"....very un-REI like if you ask me (e.g. as compared to a decade or more ago)!