Pros
The company is not going away. It has enough recurring revenue and money in the bank to coast for quite a while despite its massive debt load.
Cons
The family atmosphere, the fun, and the comradery are gone. The salary's used to be competitive, but they are now stagnating while the rest of the jobs in that field in Austin are raising wages quickly. In one situation my job title changed so that they could say I was making closer to 100% industry average than I was before. Nice trick. On paper it looked like a 7% raise, in reality it was about 2%. To top it off, mobility is limited, and a pathway to promotion is vague, or changes year over year. Its things like this that has killed the atmosphere. Talent is leaving for more money and less rigidity. The company feels very top heavy as well. Many benefits have been rolled back, or re-tooled to appear better, but actually end up worse. I understand streamlining and cost synergies, but at this point it is sacrificing long term growth in the name of short term gains.