Pros
Laid off as part of the "synergy" from the Spansion - Cypress merger. Received a fair severance package. Glad that I was not part of the new company.
Cons
Spent several months prior to being laid off to assist with the transition. Noted that project plans seemed to be driven from the top with very little knowledge of the scope or required tome to complete. Resulting in some very unrealistic dates for completion. Was told that the merger would look at the best practices from both companies for adoption and implementation. Reality was that they adopted the "cheapest" practices, forgoing many best practices. Very hostile and confrontational environment. Not for the faint of heart. Seemed that management below TJ had difficulty standing up to TJ when he announced an edict.