Pros
Good camaraderie and teamwork - for the most part, people work together and share the credit fairly. Plenty of smart, experienced folks around to bounce ideas off and joust with. It's the most casual, laid-back workplace you ever saw, complete with Friday afternoon beer & wine on the house. Flexible work schedules are no problem. The Dilbert quotient is reasonably low in the management ranks. If you know your stuff and pull your weight, you can do well at Cobalt.
Cons
High turnover, including alternating hiring and layoff binges. Few seem to make it past even 5 years, and those who do seem to constitute something of an old boys club. A contrarian might consider the churn a possible "pro" as new blood is coming in all the time, but it does little for organizational cohesion. Understaffing in many areas necessitates lots of long days and off-hours work keeping the lights on and projects on track. The current rotten conditions in the auto sector mean constant job uncertainty for all, though that's hardly unique these days.