Had an initial phone interview with one person, followed by two on-site interviews with four others altogether. Some of the best interviews I've ever had; very smart, buttoned-up employees who asked excellent questions. I was hoping to be hired because I could tell I would grow a lot from being around these folks.
I was offered the job; received a verbal offer and was told I would soon receive a written offer letter from HR to make things official.
Two months later and still no offer letter, I spoke with one of the interviewers on the phone who informed me there was a large company reorganization and they were no longer hiring for my position.
To their credit, the person who I was in touch with throughout the process was an excellent communicator who was very apologetic, and I respected him very much. The unfortunate result of everything was that it took them two months to figure things out and revoke the offer they made me. Back to square one in the job search.
Proceed with caution.