Pros
None that I can see.
Cons
No job security. I have seen several senior employees being terminated within a single day. In some cases, employees were asked to relocate or travel from another city, only to be terminated shortly after for unreasonable or minor reasons. There were situations where management openly said they would have terminated someone earlier, but delayed it only because the employee had come to the office from out of town. There seems to be very little empathy or consideration for the fact that a job is often the primary source of income for an entire family. Many decisions are taken personally rather than professionally. Backbiting and speaking negatively about one employee to another is very common. When such behavior comes from the CEO level, it creates a highly unprofessional environment and reflects immature leadership. On the final working day, managers often avoid facing employees directly and instead ask HR to handle the exit conversation. The justification often given is: “This is the risk you take when joining an unorganized startup.”