Pros
ARM is a great place to work. I personally feel part of the big picture, have clear purpose, freedom to apply existing knowledge and I think that innovations are encouraged. I feel that most individuals at ARM care about the companies success and feel rewarded for their efforts. I think ARM is unique in its culture and approach to flexible working. I think the people are not only some of the most intelligent, but some of the most friendly/helpful individuals you can work with.
Cons
I think there is alot of middle management and with that politics for self promotion where perhaps actions taken are not in the greater interest of ARM . As an example, I have witnessed in some circles junior individuals feeling devalued because their idea was not accepted where it appeared that the idea didnt fit middle management directives at the time. However, a few months later and strategic direction changes from upper management, the ideas were re-pitched in a glossy format by middle management and accepted as their idea. I think this prevents some junior talent from rising in the organisation and I believe this behaviour undermines ARMs values/ objectives. On a related note, I think adding value to the bigger picture is what is needed and sometimes that requires taking on long term large challenges to address root causes. Some of those ventures may fail to make way for future successes, however it seems that short term gain is often favoured to "show how good we are and that we are doing something". I think this needs addressing as systemic issues appear common.