Pros
The company has a reputation of taking care of its employees. They do little things that indicate that they appreciate the effort of its employees. There is also a nice culture of empowerment. The decentralized culture allows less senior individuals to see how their contributions really contribute to the products and services the company offers. Morale appears to be quite high, even during a time is which some interesting announcements have been made about how the company will staff organizations in the near future. I joined this organization because of how much structure and order I experienced during the interview process, and I have not been disappointed.
Cons
The company is changing a bit to being strictly focused on shareholder value. The integration taking place will challenge, it seems, the culture that long time employees have enjoyed. I am not overly concerned about this, as a new employee, it seems that the company is moving toward a culture that is more realistic for a publically traded company. But that does not mean that it will not be a tough transition. The company does a nice job of creating positive messaging around change initiatives. But some of the response is starting to turn towards more skepticism. it will be interesting to see how that plays out.