Pros
Great for those just out of college that need the dreaded first five years of experience to get into a position to further their career. Great for those that need a work visa. If you are a development engineer you are given some creative leniency and would be working for the most supportive manager within the company.
Cons
Absolutely no concept of work-life balance. Management only cares about the almighty dollar, not an ounce for employees unless you are one of the chosen few. Blatant favoritism for those who have been at the company for seven plus years even if they are not capable of performing their job duties. Management is so narrow-minded they've actually convinced themselves that they "listen" to their employees yet if they listened there would not have been a mass exodus the past two years of amazing talent. If you are looking for career advancement this is not the place for you. Sure, they will create a new title that includes "Director of xx" but those are just words. You can't break the ceiling they've created.