Pros
Red Hat still has a good culture and really smart and invested people. Red Hat technologies are solid, secure and trusted in the market, and well rated by Forrester and Gartner. A great place to work if you are in the technical software field and want to be involved in good products.
Cons
Lots of change is being introduced to the sales operations around account ownership, compensation models, revenue recognition along with a new CRM system. A lot of change all at once is causing mass frustration in the sales organisation who can't clearly quantify how they are measured or paid. IBM is now clearly taking a far more active interest in business operations and there is a clear focus on slimming down the cost of sales, passing often complex accounts to new junior sales hires in the IBM organisation. From a sales perspective, it's going to be a difficult year or two until the sales & partner teams are firing on all cyclinders again.