Poor culture and management
Pros
If the company followed through on its statements then it could be great. It has all the right things in place to be a great place to work however is not following through due to poor middle management.
Cons
The company treats its staff very poorly. I have seen people let go at a moments notice with no explanation after being told that their position was secure. Project proposals are also submitted in the knowledge that they will not cover the full solution. This approach is taken with the short term view that that they will win the work and can then raise variations later to increase the scope. This has the added 'benefit' that middle management are seen to get the wins while it is the project teams that are seen to then have issues with delivery.