Pros
If you work on the editorial side, the material is very intelligent - you get to learn while you earn. The people are mostly nice and good coworkers; one or two higher ups had some temperament issues. When I was there, though, the Editor in Chief was a wonderful person and great to work for.
Cons
People seem to get fired impulsively and for no reason. During my time there, everyone in my dept. was eventually let go, including me. The reasons seemed to be petty - people were fired even when their work was praised. One very good, hard-working long-term employee was let go while a parent he was caretaking was dying, and this was known to management. Also, people seemed to be let go so someone higher up's friend could have the job. They even let people go for merely frivolous reasons at the beginning of "the recession" (aka Great Depression 2) without a thought.