Pros
When I joined some structure was missing. Our manager was junior, it was his first job and he was lacking the needed experience. A more seasoned manager for our team was hired which had a positive impact on our way of working. They are putting the bar higher for everyone internally, they challenge us. I personally like the changes, I can work on development of innovative products with smart colleagues. Being part of this team is definitely more exciting than my previous job, but challenging at times as well.
Cons
I notice that some people are disgruntled with the ongoing changes. There are a lot of really smart people in the team I am impressed with, but for most this is also their first job. The average seniority level in the company still needs to further grow. I see especially some complaining when the management decides to let someone go. People here are more friends than colleagues, therefore these decisions quickly feel personal.