Pros
Company is of very small size (<50 ppl) with an attrition rate that is very high, with most people leaving within 2 years of joining, which forces people to stay high on the hierarchy chain, whether they are ready for it or not. Company seems to attract friendly people who come in very energized, but are quickly broken or let go. Company is good for those that need something to do and gain early experience, but please don't stop looking when starting the job here.
Cons
As one VP currently described it, the company is a "rolling crisis" with weekly problems. When the management buy out occurred for the company, there were ~50 employees, but due to poor performance and lack of BD to obtain additional work the company had to downsize to ~25 employees in less than 6 months. Training for personnel is very poor and with the expectation to start off running from day 1 employees are just running into walls without direction. Company lost it's quality standards of CMMI 5 or CMMI 3, which it shouldn't have had to being with. Retention rate of people in the company is around 60% and average tenure of existing employees is close to 1 year. While personal performance is shared often, company performance is often hidden from employees until a downsize occurs. Company direction is maintained only at the top level, thereby making sure that mid and lower level employees feel disconnected and irrelevant. During conferences, BD dulls out gifts for perspective customers, giving out iPads and HDTVs, but internally is stingy with giving employees $20 gift certificates only under extreme situations.