Pros
The PB brand has a ~130 year legacy and is widely respected. At its core the company still values technical excellence and a commitment to its clients that is probably second to none.
Cons
Cutting overhead is not a growth strategy. Investment in the training and development of its people, particularly its PMs and Project Accountants has been pretty much eliminated over the past 7-8 years. The firm wants to excel in the at-risk environment. Yet management believes the PMs it hires or promotes will naturally excel without deep training -- and with contractor clients no less. Similar problem with PM tools -- the Project Accounting system has seen very few improvements since 1993. The better PMs run their projects in Excel. This is not sustainable long term.
