Pros
For the wonderful first 6 years of my career with IKEA, I never for a moment would have considered rating IKEA as anything less than a perfect five-stars. IKEA was (yes, sadly "was") a five-star organization; the company had an exceptional culture, which was rooted in a fantastic, well-adhered-to set of of values. Unfortunately, the US organization will be/was completely restructured in October, and it appears that the IKEA values (as well as logic and common sense) were completely scrubbed from the new organization.
Cons
The true con is what the current US country managers, Lars Peterson and Nabeela Ixtabalan, have done to what was once an exemplary and beloved organization. Their pet reorganization project, dubbed "Organizing for Growth" or O4G, has unraveled productivity and morale at an alarmingly rapid pace. Many "lifers" (coworkers with over 10, 20, or 30 years of experience with IKEA) are leaving or have already left. The future looks extremely uncertain, and unfortunately the only certainties are lower salaries and significantly higher hour requirements (full-time coworkers must now commit 80 hours/week to IKEA).