Pros
Most of the people you'll work with are smart. Lots of hiring has been going on recently in an attempt to properly staff some projects that have been understaffed for months or years.
Cons
Everything about this company is on the decline. Compensation, especially stock compensation, has fallen dramatically, both for new hires and for retention grants with existing employees. The quality of the cafe food and IT support has been declining, the number of social engagements with other employees has been cut to zero (not even a formal holiday party last year), and this is all concurrent with a rising number of projects and customer commitments. Those who have been there are trying to find their way out and the new ones coming in don't have a good reference point for how good this company used to be.