Pros
It's local so travelling to work is made easy for the magority of workers. After a few years, you might be able to work the hours you want within reason, if your manager is half decent and new employees fill your previous work schedule.
Cons
Too many to list them all. Going back a few years, the bullying culture was rife in all areas of the business, and forcing people to leave in droves. Things may now have gone the other way as it appears a cull of senior managers took place during a cost-cutting phase. You can work as hard as you like but don't expect any rewards, whilst other can do as little as they like, either being sick, going on holiday, or leaving early. Standards are low across the board so don't expect integrity and good ethics when you most expect it - from the top down.