Pros
TiVo makes a killer product and if you're in the field trials program, you get free service and equipment. The atmosphere is really relaxed and they offer telecommuting, flexible schedules, and encourage creativity. Everyone in my department was super friendly and supportive. I think the pay is also decent.
Cons
Unlike most other companies I've worked for, there is no "rumor mill" or "watercooler talk" about impending layoffs--nothing to help you get mentally prepared. Your manager just comes to you one day for your regular one on one, but this time they reserve a conference room and come equipped with a red file folder telling you that IT is shutting down your credentials as you speak. The last layoff (about 10% of total workforce) was a complete and utter surprise, so kudos to the executive team for keeping a secret. The government could use people like that! At least I had a good manager who had a heart and really empathized with me even though she had to do the dirty work of decisions made above her pay grade. There is no onsite gym, no 401(k) matching, no cafeteria, and the onsite haircut company charges $20 for a simple cut.