Unstable Employment With Frequent Lay Offs.
Pros: nice offices.
Cons: good 'ol boys environment for promoting, not knowledge/experience based.
It's not what you know or how long you have worked in your position, if management decides that they prefer a newcomer, who has learned all they know from you, you will be on your way out the door and be laid off.
Beware to Engineers: You are the first to go !