Pros
No need to work overtime. People work 10+ years won't get fired.
Cons
Lots of people are 40+ years old. They work like people who prepare to retire. They're waiting to get pension. The company likes to hire 40+ yr people.
It's easy to be hired by the company. No threshold. They hired a PM who can only do one thing at one time. Whenever you ask her to do additional work, she'll say "I'm busy." Busy enough to go to stock market and shopping websites. She works in the company over 10 years. Even the department head doesn't dare to assign her any additional job. Not every PM like this one, but many people work like this. They don't get fired. They're happy and wait to retire.
Most supervisors don't follow what you're doing. They only focus on their own work. At some point they may suddently ask you "what are you doing now?" They say they trust employees to be self-management, but the truth is that they don't want to do any management work. Managers here are a group of people who are older than you and get paid more than you. That's all.
The managers said they'd love to hear feedback from employees, but they never change. They just want to pretend they are open-minded.
Managers, including CEO, don't care about the quality of products. They often say "We don't need the product to be very good. As long as it can be used, it's okay." Fortunately, most clients reside abroad, so they don't know what products they're buying.