Pros
Some nice and technical co-workers. Some leading edge products with challenging design.
Cons
The upper management does not have a capability to predict the future trend of the market with the correct timing. They only pursue the near future possibility, therefore they always miss the right time to the market. The middle level managers are hired from the outside of the company, and they are not always the experts on the business. The middle level managers are tending to be "yes man" to the higher management. All of the pressures are directly water fallen to the lowest level engineers without correct consideration of the product. The moral is very low in the R&D engineering groups, so many engineers are thinking to leave the company. I saw some R&D group lost more than half of good engineers in less than 3 years.