Pros
Great products to work on if you're actually in the audio or video industry. At the "worker bee" level, it's an "all-hands on deck" approach, where people pull together and bust their butts to get a new release out, partially because so many of your friends work in the business using your products to make a living. Good benefits, too, and a pretty good work/life balance (unless you were anywhere near shipping something--then it's "death march" central).
Cons
Executives and mid-level management are incompetent at actually managing this company. Lewis Hernandez is a man with zero insight into the industry his products support, his micro-managing damages the company, and the people he has hired at the VP level have been failures. His attempt at turning Avid into a "services" company will probably fail, and Avid has also basically abandoned its mid-tier customers, and look to be trying to drive their professional audio customers away too. So, it's anyone's guess who the execs at Avid think their customers are and/or what they do. There's zero career development at Avid, and almost no internal advancement possible. Lip service is not even given when it comes to career building.