Pros
Huge disparity between departments. Some departments work a strict 9-5 schedule and are empty by 5:01. Others work 7am-10pm 6 days a week. That is not an exaggeration.
Cons
If you're working in any department related to LED R&D or LED Operations, expect average pay for absurdly long hours. Cree isn't the only company in the semiconductor industry to expect those kinds of hours, but most other companies try to at least make their work environment tolerable if not pleasant. At Cree, you can expect a high stress, "management by screaming" environment. Don't plan on getting any of your PTO approved either. My manager denied every single one of my requests without comment for my first 2 years at Cree. A lot of people are so beaten down that they're just trying to get through the day without getting screamed at or insulted by management. Don't think you can start off in a less desirable department and make a lateral move later in your career. In my 5 years at Cree, I've seen dozens of employees try this. All but one was blocked by upper management.