Pros
You always have the option to leave..
Cons
All decisions are made from above, everyone else is a trained monkey. They have no problem blowing smoke about being part of a great family and how solid you future is with them, meanwhile they are arranging your end date. The company I worked for was bought by Quad, I saw my position posted on their sight, then they fired me because they no longer needed my skill-set. When I pointed out the listing I was told that I actually made more then twice what they would pay. In the end it worked out, I went to another company and actually got a raise because my new company pays industry standard. Bottom line, they dump their skilled workers for fresh out of college cheap labor. The techs at Quad were blown away by the technology solutions we created at the company they bought (Vertis), but then Quad promptly began to fire the guys that created it. They were blown away because you can't teach real world experience in college.