Pros
Yellowbook is a great place to work in many ways. It has great people and a real team mentality among co-workers, with great opportunities for learning and cross training. The work is fun, challenging, and rewarding. My direct managers were all good people and willing to help in any way they could. Higher management was friendly and helpful, but of limited influence with the company as a whole.
Cons
The atmosphere is always laced with fear of when the next round of layoffs would come, or the next re-org would leave you working on projects that were of no interest to you. The lack of any sort of loyalty to long-time employees (even ones with good skills) left no doubt that eventually you would be let go, it was just a matter of when - there was no hope for this being a long-term career, most people with 10+ years at the company were laid off. After-hours work when on call was brutal, up every night for multiple hours, often to spin your wheels waiting for another person (who often did not get up and respond to their page) to do something so you could do your portion of the work. No compensation for extra time spent on call meant that two weeks later you were often still feeling the effects physically.