Pros
The experience you can gain can be valuable, if you're able to figure out what is going on without any real guidance. Since they tend to under staff, you get to work a lot more than any one person should be reasonably expected to, which helps force you to learn quickly. Direction changes often, so there's always something new to learn. Benefits are good, but the atmosphere "perk" is only a perk until you realize that most of it is just smoke and mirrors. There are quite a few friendly and interesting people that work there, but most of the camaraderie comes from mutual discontent with their current working environments.
Cons
There is a real lack of leadership. Important decisions are often made quickly, and without planning. Over the last few years of working at a la mode, the quality of the working environment (and the products) declined severely. There is a lot of distrust throughout the company, and there is often a sense of panic, which is fueled further by a lack of communication and even occasionally, blatant lies.