Management tends to 'pigeon-hole' employees, meaning that employees are sometimes signed up for responsibilities that are below their capabilities, which is detrimental for career development.
Another con is management's hesitation to add headcount when the company is doing well (to avoid or reduce layoffs in downturns). While that can also be seen as a 'pro', the downside is that some interesting development projects may get cut during cycles when the company is doing well (in order to move heads to critical under-resourced areas). Cutting back on development is not something that has hurt the company (I believe) due to the long life cycle of a probecard technology (in contrast to more 'cutting edge' technologies in other industries - see above), so this strategy may work but it is your decision if it is good for your career.