Pros
The location is nice. Many of the lay people are pleasant and fun to work with.
Cons
Management has no clue how to manage their resources. A nasty tendency to hire people with one job title, then require work well outside of their original job description, and then wonder why the work isn't being done as efficiently as they thought it would be. Job hunters beware.
If people aren't being let go, they are leaving at a pretty heavy rate.
Low pay, which could be acceptable if not for the first point above.
Upper management believes they know what made their last game remotely successful, but they have squandered capitalizing on any success by actively getting rid of anyone who doesn't agree with them.
Management refuses to actively document, and changes their mind on key features on a whim. A minor positive - if you don't bring up a change you think is bad, they will forget about it in a week.
Laughable deadlines for completion of features thanks to the previous point.