Pros
Get exposed to lot's of different projects. Learn a lot and need to adapt fast so it can be a good challenge, at times. Good for giving all employees stock options, benefits/401k match are good.
Cons
Very slow at promotions. Can work a very long time before getting moved up a level. Management not afraid to ask you come in weekends and there is no compensation for over time if a salaried employee. Tied to DRAM which is losing money so even if your department is making money you may not get a raise because company has company wide freeze on pay adjustments and bonuses too. Very hard to transfer internally: you may have to quit to even get to move to a different position within the company. Old Boys' network takes care of mid managers and their buddies, ignores good employees who go on not getting recognition they deserve as they are not in a certain "click"
