Pros
Paycheck in your bank account every two weeks, until they lay you off, anyway.
Cons
Company is going through bad times. Layoffs left and right...people working on projects with you are always just gone one day. I also don't advise taking any FMLA time. Human Resources is the worst I've ever dealt with. Every interaction, from my background check (done by some idiots in some third-world country who were having difficulty verifying my prior employment because they were calling the New York office of a company I worked for that was headquartered in the midwest, and I worked in an office in the south...here's a hint: New York is not the literal center of the universe) to my layoff (I can't collect unemployment because they reported that I still worked there) and everything in between has been a nightmare. Travel embargoes all the time. Can't spend money on anything...you like a particular pen in the supply closet? Tough...that pen got downsized. Dictums come down on things like types of staplers you can have. Management recently got approval to sell preferred stock to an "institutional investor"...you know what that means. Crummy high deductible health insurance (that's holy cow expensive in COBRA, especially considering what it is).