Pros
I enjoyed the relaxed, collegiate-style atmosphere. All my co-workers were helpful, friendly, and cooperative. Lower-level management was pleasant to deal with -- upper-level management left little to be desired.
Cons
I was hired with a group of about 25 people and we were laid off with over 200 employees 2 months later. There was a SERIOUS disconnect between upper-level management and all other employees / departments. We would frequently receive scathing emails from people we knew by name only, and who had no clue what our job actually entailed. This company is a classic case of the "left hand not knowing what the right is doing." In my 2-month stint, I held 3 different job titles. There would be a change of procedure literally every 2 weeks -- I'm not exaggerating. Just when we would learn a new system or procedure, it would change...again. I've never experienced such instability anywhere else.