Pros
Good salaries (comparable if not better than similar businesses, sure some pay better but there's a reason for that, have to attract people somehow...), and benefits are far superior than most companies - 4 weeks paid leave for new father's is one that not many other businesses seem to offer and will appeal. Mat leave is OK if not spectacular. Overall benefits package is very flexible, pick and choose benefits, buy or sell holiday days, adjust levels of dental and/or medical care, pension contributions and lots of other things too. London office working environment and company culture is very good, most people have a number of colleagues that are also close friends so there is a good team spirit and camaraderie. I would find it surprising if anyone dreaded coming to work, the atmosphere is usually friendly and cheerful with a work hard play hard attitude. Lots of employees that have been with the business a really long time which is a good sign. If you are willing to put the work in, it is recognized and appreciated though how depends on role/function, and some are better than others. One of those places where leavers tend to say they are sad to go, and many do say it's best place they have worked - they could just be saying that of course, but I believe them and fair to say it reflects the experience of everyone I work with. I would recommend to a friend/family member for certain roles/departments, but not all. Great product, award winning photographers, industry leader and somewhere you can feel proud to say you work.
Cons
Mostly management related issues, though they are not all bad, majority strong and a few are very impressive. The constant change comments someone else made is true, does feel knee-jerk and chaotic at times, often incomprehensible and badly explained/poorly communicated so not surprising people find it difficult to understand and accept. More honesty about reasons for change would go a long way. Career progression can be tricky, people tend to stick around and moving up the ladder is often difficult. But if you are good and hardworking it will be recognized, eventually.