Pros
Austin team, formerly Novati, are a really intelligent, experienced, hard working, and nice group of people. Lasting friendships have come from working there. Not sure how long that group of talent will stick around however. Lots of people are temporarily trapped there, or would have left already.
Cons
Management: A bunch of academic types that don't listen to experience. School of hard knocks is how they learn the obvious about running a fab. They prefer to work harder not smarter. It is more important to appear at work for long hours doing what you are told, than to have real business impact. And, keep your opinions to yourself or you risk being fired. Engineering == Graduate Student mentality. Absolutely no work life balance. By life balance, I mean basic needs like food, water, sleep, and bathroom breaks. Every lot in the fab is treated like a rocket lot, so don't expect to be able to take care of basic needs without getting reprimanded. Definitely avoid this place if you have a family, because expectations are not compatible with spouse satisfaction, and parenting. Management does not appear to have healthy family lives, so do not expect them to understand family commitments. Management is still working out the new business model post merger, and punishing engineering for their business mistakes. They don't know how to run a semiconductor fab, and they don't know best practices for technology development. There is a huge disconnect between expectations and reality. They will promise wealth through company equity. But, it is my opinion that is unlikely. Either you will be terminated to avoid paying out, or the company will not be able to succeed due to under resourcing and financial constraints. Hubris is rampant, and communication with management is often toxic in tone and extremely one sided. Remember that Engineering == Graduate Student. Expect to be treated like a graduate student. It just isn't worth it to work there.