Pros
There is plenty of opportunity for visibility to upper management to showcase your skills. Good ideas win, regardless of who they come from. After years of stagnation and decline, we are embracing the mentality of challenging the status quo. Incentives for achievement are becoming more attainable and regular. This is a welcomed change! Organization of deliverables is better than what we've seen in the past (2+ years ago).
Cons
We are more of a global company, which can present stressors of little overlap in time zones for teams. With the headcount reduction that we've experience over the past couple years, there are significantly fewer people to handle the workload. Expectations for the teams have only increased, which can lead to some burnout and stress amongst the teams. However management is receptive to feedback. The problem is that some teams don't know when / how to pushback on additional work.