Pros
No accountability so it's easy to skate by, lax work environment so it's easy to goof off, work-life balance is very good because there's no pressure to work hard, hardware is readily available for testing purposes, lots of opportunity for hands-on experience with drives, formal on-site training is conducted routinely, free lunch is provided occasionally
Cons
Management is clueless beyond belief (e.g. the director of engineering comes from a sales background), project management is practically non-existent so priorities can change daily resulting in flail, projects commonly run overdue by years (e.g. the project I worked on took a decade just for initial release), competent engineers don't stick around so HR focuses on recruiting interns (which ups the cluelessness factor)